FIRSTREGULARSESSION
HOUSEBILLNO.175
103RDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVEPARKER.
0149H.01I DANARADEMANMILLER,ChiefClerk
ANACT
Torepealsection456.10-1005,RSMo,andtoenactinlieuthereofonenewsectionrelatingto
limitationsofanactionbroughtagainstatrustee.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Section456.10-1005,RSMo,isrepealedandonenewsectionenactedin
2lieuthereof,tobeknownassection456.10-1005,toreadasfollows:
456.10-1005.1.Abeneficiarymaynotcommenceaproceedingagainstatrusteefor
2breachoftrustmorethanoneyearafterthelasttooccurofthedatethebeneficiaryora
3representativeofthebeneficiarywassentareportthatadequatelydisclosedtheexistenceofa
4potentialclaimforbreachoftrustandthedatethetrusteeinformedthebeneficiaryofthetime
5allowedforcommencingaproceedingwithrespecttoanypotentialclaimadequately
6disclosedonthereport.
7 2.Areportadequatelydisclosestheexistenceofapotentialclaimforbreachoftrust
8ifitprovidessufficientinformationsothatthebeneficiaryorrepresentativeknowsofthe
9potentialclaimorshouldhaveinquiredintoitsexistence.
10 3.Ifsubsection1ofthissectiondoesnotapply,ajudicialproceedingbyabeneficiary
11againstatrusteeforbreachoftrustmustbecommencedwithinfiveyearsafterthefirstto
12occurof:
13 (1)theremoval,resignation,ordeathofthetrustee;
14 (2)theoccurrenceoftheeventcausingaterminationofthebeneficiary'sinterestin
15thetrust;or
16 (3)theoccurrenceoftheeventcausingaterminationofthetrust.
âś”
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage.