404.650. Law of Missouri to apply, when--other state's laws applicable, when. - Missouri Statutes

Law of Missouri to apply, when--other state's laws applicable, when.

404.650. 1. Sections 404.400 to 404.650 apply to atransfer that refers to the Missouri personal custodian law inthe designation under section 404.540 by which the transfer ismade if at the time of the transfer the transferor, thebeneficiary or the personal custodian is a resident of this stateor the custodial property is located in this state. The personalcustodianship so created remains subject to sections 404.400 to404.650 despite a subsequent change in residence of a transferor,the beneficiary or the personal custodian, or the removal ofcustodial property from this state.

2. A person designated as a personal custodian undersections 404.400 to 404.650 is subject to personal jurisdictionin this state with respect to any matter relating to the personalcustodianship.

3. A transfer that purports to be made and which is validunder the uniform custodial trust law, personal custodian law, ora substantially similar law, of another state is governed by thelaw of the designated state and may be executed and isenforceable in this state if at the time of the transfer thetransferor, the beneficiary or the custodian is a resident of thedesignated state or the custodial property is located in thedesignated state.

4. A transfer that purports to be made under the uniformcustodial trust law of Missouri or the adult custodian law ofMissouri is governed by sections 404.400 to 404.650.

(L. 1986 S.B. 651 § 14, A.L. 1989 H.B. 145, A.L. 1993 S.B. 277)