456.1-108. Principal place of administration.

MISSOURI STATUTES AND CODES

456.1-108. Principal place of administration.

Principal place of administration.

456.1-108. 1. Without precluding other means for establishing asufficient connection with the designated jurisdiction, terms of a trustdesignating the principal place of administration are valid and controllingif:

(1) a trustee's principal place of business is located in or atrustee is a resident of the designated jurisdiction; or

(2) all or part of the administration occurs in the designatedjurisdiction.

2. Without precluding the right of the court to order, approve, ordisapprove a transfer, the trustee may transfer the trust's principal placeof administration to another state or to a jurisdiction outside of theUnited States that is appropriate to the trust's purposes, itsadministration, and the interests of the beneficiaries.

3. The trustee shall notify the qualified beneficiaries of a proposedtransfer of a trust's principal place of administration not less than sixtydays before initiating the transfer. The notice of proposed transfer mustinclude:

(1) the name of the jurisdiction to which the principal place ofadministration is to be transferred;

(2) the address and telephone number at the new location at which thetrustee can be contacted;

(3) an explanation of the reasons for the proposed transfer;

(4) the date on which the proposed transfer is anticipated to occur;and

(5) the date, not less than sixty days after the giving of thenotice, by which the qualified beneficiary must notify the trustee of anobjection to the proposed transfer.

4. The authority of a trustee under this section to transfer atrust's principal place of administration without an order of a courtterminates if a qualified beneficiary notifies the trustee of an objectionto the proposed transfer on or before the date specified in the notice.

5. In connection with a transfer of the trust's principal place ofadministration, the trustee may transfer some or all of the trust propertyto a successor trustee designated in the terms of the trust or appointedpursuant to section 456.7-704.