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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

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  456.033.  Effect of registration. — 1.  By registering a trust, or accepting the trusteeship of a registered trust, the trustee submits personally to the jurisdiction of the court in any proceeding involving the internal affairs of the trust that may be initiated by any interested person while the trust remains registered.  Notice of any such proceeding shall be delivered to the trustee or mailed to him by ordinary first-class mail at his address as listed in the registration statement or as thereafter reported to the court and to his address as then known to the petitioner.

  2.  To the extent of their interests in the trust, all beneficiaries of a trust registered in this state are subject to the jurisdiction of the court of registration for the purposes of proceedings involving internal affairs of the trust, provided notice is given pursuant to section 472.100.

  3.  "Interested persons" include beneficiaries and any others having a property right in or claim against a trust estate which may be affected by a judicial proceeding.  It also includes persons and other fiduciaries representing interested persons.  The meaning as it relates to particular persons may vary from time to time and must be determined according to the particular purposes of, and matter involved in, any proceeding.

  4.  "Internal affairs" proceedings, without limitation, are those which involve interpretation or construction of the terms of the trust by declarations, instructions or judgments as to the existence, nonexistence and extent of rights, powers, privileges, immunities, duties, liabilities and remedies of trustees and beneficiaries in the administration and distribution of trusts, including but not limited to proceedings concerning:

  (1)  The qualifications, appointment, removal, indemnification, reimbursement, exoneration or surcharge of trustees;

  (2)  The imposition, change and release of requirements for trustees' bonds;

  (3)  The employment of agents and compensation to them and to trustees;

  (4)  The review and settlement of interim and final accounts;

  (5)  The propriety of investments or of principal and income allocations;

  (6)  The allowance of deviations from or modifications of trust terms;

  (7)  The ascertainment of beneficiaries or of beneficial interests;

  (8)  The requirements for release of registration or change of principal place of administration;

  (9)  The timing and quantity of distributions and dispositions of assets;

  (10)  The validity and effect of alienations by beneficiaries, by exercise of powers of appointment or otherwise; and

  (11)  Terminations of trusts.

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(L. 1983 H.B. 117, A.L. 2004 H.B. 1511)

Transferred 2004; formerly 456.430


---- end of effective   28 Aug 2004 ----

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