| 1 | 1 | | FIRSTREGULARSESSION |
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| 2 | 2 | | HOUSEBILLNO.174 |
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| 3 | 3 | | 103RDGENERALASSEMBLY |
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| 4 | 4 | | INTRODUCEDBYREPRESENTATIVEPARKER. |
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| 5 | 5 | | 0148H.01I DANARADEMANMILLER,ChiefClerk |
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| 6 | 6 | | ANACT |
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| 7 | 7 | | Torepealsection456.1-108,RSMo,andtoenactinlieuthereofonenewsectionrelatingto |
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| 8 | 8 | | trustadministration. |
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| 9 | 9 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
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| 10 | 10 | | SectionA.Section456.1-108,RSMo,isrepealedandonenewsectionenactedinlieu |
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| 11 | 11 | | 2thereof,tobeknownassection456.1-108,toreadasfollows: |
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| 12 | 12 | | 456.1-108.1.Withoutprecludingothermeansforestablishingasufficient |
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| 13 | 13 | | 2connectionwiththedesignatedjurisdiction,termsofatrustdesignatingtheprincipalplaceof |
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| 14 | 14 | | 3administrationarevalidandcontrollingif: |
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| 15 | 15 | | 4 (1)atrustee'sprincipalplaceofbusinessislocatedinoratrusteeisaresidentofthe |
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| 16 | 16 | | 5designatedjurisdiction;or |
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| 17 | 17 | | 6 (2)allorpartoftheadministrationoccursinthedesignatedjurisdiction. |
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| 18 | 18 | | 7 2.Withoutprecludingtherightofthecourttoorder,approve,ordisapprovea |
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| 19 | 19 | | 8transfer,thetrusteemaytransferthetrust'sprincipalplaceofadministrationtoanotherstateor |
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| 20 | 20 | | 9toajurisdictionoutsideoftheUnitedStatesthatisappropriatetothetrust'spurposes,its |
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| 21 | 21 | | 10administration,andtheinterestsofthebeneficiaries. |
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| 22 | 22 | | 11 3.Thetrusteeshallnotifythequalifiedbeneficiariesofaproposedtransferofatrust's |
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| 23 | 23 | | 12principalplaceofadministrationnotlessthansixtydaysbeforeinitiatingthetransfer.The |
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| 24 | 24 | | 13noticeofproposedtransfermustinclude: |
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| 25 | 25 | | 14 (1)thenameofthejurisdictiontowhichtheprincipalplaceofadministrationistobe |
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| 26 | 26 | | 15transferred; |
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| 27 | 27 | | 16 (2)theaddressandtelephonenumberatthenewlocationatwhichthetrusteecanbe |
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| 28 | 28 | | 17contacted; |
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| 29 | 29 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 30 | 30 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18 (3)anexplanationofthereasonsfortheproposedtransfer; |
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| 31 | 31 | | 19 (4)noticethatachangeintheplaceofadministrationmayresultinachangeof |
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| 32 | 32 | | 20governinglaw,whichmayaffecttherightsofbeneficiariesinwaysthataredifferent |
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| 33 | 33 | | 21fromcurrentgoverninglaw; |
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| 34 | 34 | | 22 (5)thedateonwhichtheproposedtransferisanticipatedtooccur;and |
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| 35 | 35 | | 23 [(5)](6)thedate,notlessthansixtydaysafterthegivingofthenotice,bywhichthe |
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| 36 | 36 | | 24qualifiedbeneficiarymustnotifythetrusteeofanobjectiontotheproposedtransfer. |
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| 37 | 37 | | 25 4.Theauthorityofatrusteeunderthissectiontotransferatrust'sprincipalplaceof |
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| 38 | 38 | | 26administrationwithoutanorderofacourtterminatesifaqualifiedbeneficiarynotifiesthe |
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| 39 | 39 | | 27trusteeofanobjectiontotheproposedtransferonorbeforethedatespecifiedinthenotice. |
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| 40 | 40 | | 28 5.Inconnectionwithatransferofthetrust'sprincipalplaceofadministration,the |
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| 41 | 41 | | 29trusteemaytransfersomeorallofthetrustpropertytoasuccessortrusteedesignatedinthe |
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| 42 | 42 | | 30termsofthetrustorappointedpursuanttosection456.7-704. |
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| 43 | 43 | | âś” |
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| 44 | 44 | | HB174 2 |
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