| 1 | 1 | | FIRSTREGULARSESSION |
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| 2 | 2 | | HOUSEBILLNO.175 |
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| 3 | 3 | | 103RDGENERALASSEMBLY |
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| 4 | 4 | | INTRODUCEDBYREPRESENTATIVEPARKER. |
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| 5 | 5 | | 0149H.01I DANARADEMANMILLER,ChiefClerk |
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| 6 | 6 | | ANACT |
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| 7 | 7 | | Torepealsection456.10-1005,RSMo,andtoenactinlieuthereofonenewsectionrelatingto |
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| 8 | 8 | | limitationsofanactionbroughtagainstatrustee. |
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| 9 | 9 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
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| 10 | 10 | | SectionA.Section456.10-1005,RSMo,isrepealedandonenewsectionenactedin |
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| 11 | 11 | | 2lieuthereof,tobeknownassection456.10-1005,toreadasfollows: |
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| 12 | 12 | | 456.10-1005.1.Abeneficiarymaynotcommenceaproceedingagainstatrusteefor |
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| 13 | 13 | | 2breachoftrustmorethanoneyearafterthelasttooccurofthedatethebeneficiaryora |
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| 14 | 14 | | 3representativeofthebeneficiarywassentareportthatadequatelydisclosedtheexistenceofa |
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| 15 | 15 | | 4potentialclaimforbreachoftrustandthedatethetrusteeinformedthebeneficiaryofthetime |
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| 16 | 16 | | 5allowedforcommencingaproceedingwithrespecttoanypotentialclaimadequately |
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| 17 | 17 | | 6disclosedonthereport. |
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| 18 | 18 | | 7 2.Areportadequatelydisclosestheexistenceofapotentialclaimforbreachoftrust |
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| 19 | 19 | | 8ifitprovidessufficientinformationsothatthebeneficiaryorrepresentativeknowsofthe |
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| 20 | 20 | | 9potentialclaimorshouldhaveinquiredintoitsexistence. |
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| 21 | 21 | | 10 3.Ifsubsection1ofthissectiondoesnotapply,ajudicialproceedingbyabeneficiary |
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| 22 | 22 | | 11againstatrusteeforbreachoftrustmustbecommencedwithinfiveyearsafterthefirstto |
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| 23 | 23 | | 12occurof: |
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| 24 | 24 | | 13 (1)theremoval,resignation,ordeathofthetrustee; |
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| 25 | 25 | | 14 (2)theoccurrenceoftheeventcausingaterminationofthebeneficiary'sinterestin |
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| 26 | 26 | | 15thetrust;or |
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| 27 | 27 | | 16 (3)theoccurrenceoftheeventcausingaterminationofthetrust. |
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| 28 | 28 | | âś” |
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| 29 | 29 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 30 | 30 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. |
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