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