Mississippi § 91-9-617 - Delegation of investment and management.
Full text of Mississippi Mississippi Code of 1972 Annotated § 91-9-617 — Delegation of investment and management., with citation guidance and answers to common questions.
§ 91-9-617. Delegation of investment and management.
A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: Selecting an agent; Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the terms of the delegation. The investment agent shall comply with the scope and terms of the delegation and shall exercise the delegated function with reasonable care, skill and caution and shall be liable to the trust for failure to do so. An investment agent who represents that he has special investment skills shall exercise those skills. A trustee who complies with the requirements of subsection (a) is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated. By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state. A cofiduciary may delegate investment and management functions to another cofiduciary if the delegating cofiduciary reasonably believes that the other cofiduciary has greater investment skills than the delegating cofiduciary with respect to those functions. The delegating cofiduciary shall not be responsible for the investment decisions or actions of the other cofiduciary to which the investment functions are delegated if the delegating cofiduciary exercises reasonable care, skill and caution in establishing the scope and specific terms of the delegation and in reviewing periodically the other cofiduciary’s actions in order to monitor the cofiduciary’s performance and compliance with the scope and specific terms of the delegation. Investment in a mutual fund is not a delegation of investment function, and neither the mutual fund nor its advisor is an investment agent.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 91-9-617
What does Mississippi Code of 1972 Annotated § 91-9-617 cover?
Section 91-9-617 ("Delegation of investment and management.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 91-9-617?
A common citation format is "Mississippi Code of 1972 Annotated § 91-9-617" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 91-9-617 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.