Mo. Rev. Stat. § 448.3-119
Association as trustee
Missouri · Revised Statutes of Missouri Chapter 448 — Condominium Property · Status: effective · Effective 1983-08-28
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- Citation
- Mo. Rev. Stat. § 448.3-119, Association as trustee, Missouri, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1817362
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Full text
With respect to a third person dealing with the association in the association's capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to inquire whether the association has power to act as trustee or is properly exercising trust powers and a third person, without actual knowledge that the association is exceeding or improperly exercising its powers, is fully protected in dealing with the association as if it possessed and properly exercised the powers it purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the association in its capacity as trustee.