If a trust instrument reserves to the settlor, in a nonfiduciary capacity, the control over any or all investment decisions, the trustee is not responsible for the investment decisions made by the settlor or an agent of the settlor.
Minn. Stat. § 501C.1208
SETTLOR AND AGENTS OF SETTLOR.
Known as the Minnesota Trust Code
The act spans §§ 501C.0101 to 501C.1304 (98 sections).
2015 c 5 art 12 s 8
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.