reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.270 - Assignment by a fiduciary.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.270. Assignment by a fiduciary. —
Except as otherwise provided in sections 403.250 to 403.350, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary:
(1) May assume without inquiry that the assignment, even though to the fiduciary himself or to his nominee, is within his authority and capacity and is not in breach of his fiduciary duties;
(2) May assume without inquiry that the fiduciary has complied with any controlling instrument and with the law of the jurisdiction governing the fiduciary relationship, including any law requiring the fiduciary to obtain court approval of the transfer; and
(3) Is not charged with notice of and is not bound to obtain or examine any court record or any recorded or unrecorded document relating to the fiduciary relationship or the assignment, even though the record or document is in its possession.
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(L. 1959 S.B. 241 § 3)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.280 - Evidence of appointment or incumbency.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.280. Evidence of appointment or incumbency. —
A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumbency:
(1) In the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of that court or an officer thereof and dated within sixty days before the transfer; or
(2) In any other case, a copy of a document showing the appointment or a certificate issued by or on behalf of a person reasonably believed by the corporation or transfer agent to be responsible or, in the absence of such a document or certificate, other evidence reasonably deemed by the corporation or transfer agent to be appropriate. Corporations and transfer agents may adopt standards with respect to evidence of appointment or incumbency under this subdivision provided such standards are not manifestly unreasonable. Neither the corporation nor transfer agent is charged with notice of the contents of any document obtained pursuant to this subdivision except to the extent that the contents relate directly to the appointment or incumbency.
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(L. 1959 S.B. 241 § 4)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.290 - Adverse claims.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.290. Adverse claims. —
1. A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, the registered owner and the issue of which the security is a part, provides an address for communications directed to the claimant and is received before the transfer. Nothing in sections 403.250 to 403.350 relieves the corporation or transfer agent of any liability for making or refusing to make the transfer after it is so put on notice, unless it proceeds in the manner authorized in subsection 2.
2. As soon as practicable after the presentation of a security for transfer pursuant to an assignment by a fiduciary, a corporation or transfer agent which has received notice of a claim of beneficial interest adverse to the transfer may send notice of the presentation by registered or certified mail to the claimant at the address given by him. If the corporation or transfer agent so mails such a notice it shall withhold the transfer for thirty days after the mailing and shall then make the transfer unless restrained by a court order.
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(L. 1959 S.B. 241 § 5)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.300 - Nonliability of corporation and transfer agent.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.300. Nonliability of corporation and transfer agent. —
A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by sections 403.250 to 403.350.
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(L. 1959 S.B. 241 § 6)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.310 - Nonliability of third person.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.310. Nonliability of third person. —
1. No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary including a person who guarantees the signature of the fiduciary is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves such a breach unless it is shown that he acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.
2. If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of sections 403.250 to 403.350 incurs no liability.
3. This section does not impose any liability upon the corporation or its transfer agent.
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(L. 1959 S.B. 241 § 7)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.320 - Territorial application.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.320. Territorial application. —
1. The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.
2. Sections 403.250 to 403.350 apply to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with such a transaction.
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(L. 1959 S.B. 241 § 8)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.330 - Tax obligations.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.330. Tax obligations. —
Sections 403.250 to 403.350 do not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession or other taxes imposed by the laws of this state.
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(L. 1959 S.B. 241 § 9)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.340 - Uniformity of interpretation.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.340. Uniformity of interpretation. —
This law shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it.
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(L. 1959 S.B. 241 § 10)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.350 - Short title.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.350. Short title. —
Sections 403.250 to 403.350 may be cited as the "Uniform Law for Simplification of Fiduciary Security Transfers".
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(L. 1959 S.B. 241 § 11)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.005 - Law, how cited.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.005. Law, how cited. —
Sections 404.005 to 404.094 may be cited as the "Missouri Transfers to Minors Law".
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(L. 1985 S.B. 35, et al. § 16)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.011 - Transfer of property to a minor by transferring to a custodian, effect — power limitations.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.011. Transfer of property to a minor by transferring to a custodian, effect — power limitations. —
Property may be transferred to a person, who is a minor on the date of the transfer, by transferring the property to a custodian for the minor under sections 404.005 to 404.094.
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(L. 1985 S.B. 35, et al. § 2 subsec. 1)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.014 - Present transfer of property, effect.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.014. Present transfer of property, effect. —
A present transfer of property to a custodian for a minor, made by a transferor in the manner prescribed in subdivisions (1), (2), (3) and (5) of subsection 1 of section 404.047, is irrevocable and indefeasibly vests ownership of the property in the minor subject to the custodianship provided in sections 404.005 to 404.094 for the benefit of the minor, and neither the minor nor the minor's legal representative has any right, power, duty or authority with respect to the custodial property except as prescribed in sections 404.005 to 404.094.
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(L. 1985 S.B. 35, et al. § 2 subsec. 2)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.016 - Future transfers of property are revocable by donor, exception.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.016. Future transfers of property are revocable by donor, exception. —
A provision in a will, trust, power of appointment, benefit plan, life or endowment insurance policy, annuity or other contract, or a pay or transfer on death direction, for a transfer of property to be made in the future to a custodian for a minor, made by a donor in the manner prescribed in subdivision (4) of subsection 1 of section 404.047, remains revocable by the donor until the property becomes transferable in accordance with the terms of the governing instrument to the minor or a custodian for the minor under sections 404.005 to 404.094, unless expressly made irrevocable at the time provision for the gift is made or subsequently.
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(L. 1985 S.B. 35, et al. § 2 subsec. 3)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.018 - Custodian and third persons dealing with custodian, powers, duties, immunities.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.018. Custodian and third persons dealing with custodian, powers, duties, immunities. —
By transferring property to a custodian for a minor under sections 404.005 to 404.094, the transferor incorporates in the transfer all the provisions of sections 404.005 to 404.094 and grants to the custodian and third persons dealing with the custodian the respective powers, rights and immunities provided in sections 404.005 to 404.094. By holding property for a minor as custodian under sections 404.005 to 404.094, the custodian assumes the obligation to administer the custodial property for the minor as prescribed in sections 404.005 to 404.094.
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(L. 1985 S.B. 35, et al. § 2 subsec. 4)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.021 - Single custodianship — but custodian may serve more than one minor.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.021. Single custodianship — but custodian may serve more than one minor. —
A transfer of property under sections 404.005 to 404.094 may be made to only one minor and only one person may be custodian of the property transferred. A person may be a custodian of property for more than one minor, but the custodian shall separately hold and administer the custodial property for each minor.
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(L. 1985 S.B. 35, et al. § 2 subsec. 5)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.023 - Custodians for present transfers of property, who may serve.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.023. Custodians for present transfers of property, who may serve. —
A donor making a present transfer of property to a minor may designate and transfer the property to any adult person or financial institution, including the donor, as custodian for the minor under sections 404.005 to 404.094.
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(L. 1985 S.B. 35, et al. § 3 subsec. 1, A.L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.027 - Custodians for future transfers, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.027. Custodians for future transfers, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation. —
1. A donor making a future transfer of property to a beneficiary under a will, trust, deed, power of appointment, benefit plan, life or endowment insurance policy, annuity or other contract, or a pay or transfer on death direction, may revocably designate, or grant to another person a general or limited power to revocably designate, any adult person or financial institution, including the holder of the power, as custodian under sections 404.005 to 404.094 for a beneficiary who may be a minor at the time the property becomes transferable.
2. When the property becomes transferable to the minor beneficiary, the donor's personal representative, trustee, benefit plan, insurance company, or contract obligor shall transfer the property to the designated custodian in the manner prescribed in subdivisions (1), (2), (3) and (5) of subsection 1 of section 404.047 for the type of property to be transferred. If, at the time the property becomes transferable, the minor beneficiary has attained twenty-one years of age, the custodian designation shall lapse and the property may be transferred directly to the beneficiary.
3. The designation of a custodian for a future transfer of property may include the designation of one or more substitute custodians to whom the property shall be transferred in the order named in the event the prior named custodian declines or is not qualified to serve as custodian, or is deceased or incapacitated. A donor or a person exercising a power from a donor may revoke or change the designation of a custodian or substitute custodian for a future transfer of property by revoking the designation or making a new designation before the property becomes transferable.
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(L. 1985 S.B. 35, et al. § 3 subsecs. 2, 3, 4, A.L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.031 - Custodian if no appointed conservator, who may serve — approval of court required when — bond required when — court's powers.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.031. Custodian if no appointed conservator, who may serve — approval of court required when — bond required when — court's powers. —
1. If there is no appointed conservator for administration of a minor's estate, any person indebted to a minor, including a personal representative, trustee, benefit plan, insurance company, agency of any state or of the United States, or any person holding property belonging to a minor, not having a power from a donor to designate a custodian, may designate and transfer the property to any adult person or financial institution, including the transferor if a member of the minor's family, as custodian for the minor under sections 404.005 to 404.094.
2. A minor who does not have an appointed conservator for administration of the minor's estate may designate and transfer property that the minor owns to any adult person or financial institution as custodian for the minor under sections 404.005 to 404.094.
3. Approval of the court shall be obtained for any designation under subsection 1 or 2 of this section of a custodian that is not a financial institution, if the value of the property at the time of transfer to the designated custodian exceeds ten thousand dollars. The court may approve the designation under subsection 1 or 2 of this section of any person to act as custodian to hold and administer the property with or without bond and with or without court supervision, upon such terms as the court may require, and may order transfer of the property to a court supervised conservator.
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(L. 1985 S.B. 35, et al. § 3 subsec. 5, A.L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.035 - Qualifications of custodians — transfers to persons not qualified, effect.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.035. Qualifications of custodians — transfers to persons not qualified, effect. —
An adult person or financial institution shall not be qualified to be designated custodian for property of a minor who is a resident of this state if the person or financial institution is not qualified to be appointed conservator of the estate of the minor under subsection 2 of section 475.055 or if the financial institution is not legally authorized to do business in this state. A transfer of property to a person not qualified to act as custodian for the minor under sections 404.005 to 404.094 subjects the person to removal as custodian under subsection 11 of section 404.057, but does not affect the minor's ownership of the property and the immunities of third persons dealing with the custodian, nor relieve the unqualified person of any duties or responsibilities imposed on custodians under sections 404.005 to 404.094.
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(L. 1985 S.B. 35, et al. § 3 subsecs. 6, 7, A.L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.041 - Additional property of minor transferred to custodian, when — guardian or conservator appointed by court may serve as custodian, when — custodian's rights in other property of minor.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.041. Additional property of minor transferred to custodian, when — guardian or conservator appointed by court may serve as custodian, when — custodian's rights in other property of minor. —
1. When a custodianship has been established for a minor, the court may authorize the custodian to accept and receive into the custodianship any additional property that belongs to the minor, with or without bond and with or without court supervision, upon such terms and conditions as the court may require.
2. If the court determines under chapter 475 that full administration of a minor's estate is not required, the court may designate and direct that all or a part of the property owned by the minor be transferred to any adult person or financial institution, including a court-appointed conservator or guardian, to hold and administer under sections 404.005 to 404.094 as custodian for the minor, with or without bond and with or without court supervision, upon such terms and conditions as the court may require.
3. A custodian has no right, because of designation as custodian to possession, control, income or proceeds of any property belonging to the minor that is not transferred to the custodian by the minor, a donor or a person indebted to the minor, except as authorized by the court under subsection
*
2 of this section.
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(L. 1985 S.B. 35, et al. § 3 subsecs. 8, 9, A.L. 1989 H.B. 145)
*Word "and" appears here in original rolls.
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.049 - Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.049. Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to. —
1. A custodianship for a minor shall be treated as a custodial trust for a minor whenever property is transferred to any adult person or financial institution followed in substance with the words "as custodial trustee for ______ (name of minor) under the Missouri Transfers to Minors Law".
2. When property is placed in the name of a custodial trustee, legal title to the custodial property resides in the custodial trustee and beneficial ownership of the custodial property is indefeasibly vested in the minor, subject to the provisions of sections 404.005 to 404.094.
3. A transfer of property to a custodial trustee under the Missouri transfers to minors law incorporates in the transfer all the provisions of sections 404.005 to 404.094 and grants to the custodial trustee, minor and third persons dealing with the custodial trustee, the respective powers, rights and immunities provided in sections 404.005 to 404.094. By holding property for a minor as custodial trustee under sections 404.005 to 404.094, the custodial trustee assumes the obligation to administer the custodial property for the minor as prescribed in sections 404.005 to 404.094 and the provisions of any written trust agreement between the transferor and the custodial trustee.
4. The provisions in sections 404.005 to 404.094 respecting court proceedings, court jurisdiction and court powers shall apply to custodial trusts under this section to the same extent as they apply to custodianships for minors.
5. The law applicable to trusts and trustees, including chapter 456, shall apply to custodial trusts under this section in addition to sections 404.005 to 404.094, insofar as such law does not conflict with sections 404.005 to 404.094.
6. An inter vivos or testamentary trust that is not a custodial trust under this section may incorporate any provision of sections 404.005 to 404.094 into the governing document of the trust; and the statute as incorporated shall apply with the same force of law as it applies to a custodial trust, including sections respecting court proceedings, court jurisdiction and court powers.
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(L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.054 - Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.054. Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property. —
1. A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
2. A custodian who is not a donor may each year elect to receive from the custodial property reasonable compensation for services as custodian. If an election is not affirmatively made during the calendar year, the right to compensation for that year shall lapse.
3. A custodian is not required to give a bond for the performance of the custodian's duties unless required by court order.
4. No claim of a custodian for expenses or compensation shall constitute a claim or lien on custodial property transferred by the custodian to a third person or to the minor.
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(L. 1985 S.B. 35, et al. § 6)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.061 - Exemption of third person from liability.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.061. Exemption of third person from liability. —
A third person, including an issuer of securities, transfer agent, financial institution, broker, life insurance company, benefit plan, personal representative, or trustee, in good faith and without court order, may act on the instructions of or otherwise deal with any person purporting to make a transfer under sections 404.005 to 404.094 or purporting to act in the capacity of a custodian, successor custodian or legal representative of a custodian and, in the absence of actual knowledge, is not responsible for determining:
(1) The validity of the purported custodian's or successor custodian's designation;
(2) The propriety of, or the authority under sections 404.005 to 404.094 for, any act of the purported custodian;
(3) The validity or propriety under sections 404.005 to 404.094 of any instrument or instructions executed or given by the person purporting to make a transfer under sections 404.005 to 404.094 or by the purported custodian;
(4) The propriety of the application or use of any custodial property by the custodian;
(5) The validity of a delivery of custodial property by a custodian or legal representative of a custodian to a successor custodian; or
(6) The validity of a delivery of custodial property by the custodian to the minor or the age of the minor at the time of the delivery.
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(L. 1985 S.B. 35, et al. § 8)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.067 - Liability to third persons.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.067. Liability to third persons. —
1. A claim based on: (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity.
2. A custodian is not personally liable:
(1) On a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or
(2) For an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.
3. A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.
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(L. 1985 S.B. 35, et al. § 9)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.077 - Effect on prior existing custodianship.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.077. Effect on prior existing custodianship. —
Any transfer of property to a custodian, or designation of a custodian for property to be transferred in the future as now permitted in sections 404.005 to 404.094, purporting to have been made before September 28, 1985, is validated notwithstanding that there was no specific authority in the Missouri uniform gifts to minors law for the transfer of property of that kind or for a transfer from that source or in that manner at the time the transfer was made.
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(L. 1985 S.B. 35, et al. § 11)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.081 - Uniformity of application and construction — not to be exclusive method of transferring property to a minor.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.081. Uniformity of application and construction — not to be exclusive method of transferring property to a minor. —
1. Sections 404.005 to 404.094 shall be applied and construed to effectuate their general purpose to make uniform the law with respect to the subject of sections 404.005 to 404.094 among states enacting a similar law.
2. Sections 404.005 to 404.094 shall not be construed as providing an exclusive method of transferring property to a minor.
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(L. 1985 S.B. 35, et al. § 12)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.087 - Repeal of uniform gifts to minors not to affect transfers — use of word custodian, how defined.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1985
404.087. Repeal of uniform gifts to minors not to affect transfers — use of word custodian, how defined. —
1. The repeal of the Missouri uniform gifts to minors law, sections 404.010 to 404.100, shall not affect transfers made in a manner prescribed in sections 404.010 to 404.100, nor the powers, duties and immunities conferred by transfers in that manner upon custodians and persons dealing with custodians. The provisions of sections 404.005 to 404.094 henceforth apply to all transfers made in a manner and form prescribed in the Missouri uniform gifts to minors law, except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on September 28, 1985. In all other respects, sections 404.005 to 404.094 shall be construed as a continuation of the provisions of the Missouri uniform gifts to minors law.
2. Any transfer of property to a custodian or successor custodian after September 28, 1985, which uses in substance the words
"as custodian under the Missouri uniform gifts to minors law"
shall be construed to mean "as custodian under the Missouri transfers to minors law" and sections 404.005 to 404.094 shall apply thereto.
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(L. 1985 S.B. 35, et al. § 13)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.091 - Jurisdiction for transfers to minors and custodianship to be probate division of circuit court, procedure — appointment of guardian or conservator, court may specify duties.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.091. Jurisdiction for transfers to minors and custodianship to be probate division of circuit court, procedure — appointment of guardian or conservator, court may specify duties. —
1. The probate division of the circuit court may hear and determine all matters pertaining to custodians for minors and the administration of minor custodianships under sections 404.005 to 404.094 of this act
*
, the uniform gifts to minors law and the uniform transfers to minors law.
2. The provisions of chapter 472 apply to judicial proceedings involving minor custodianships to the extent they apply to judicial proceedings involving trusts and are not inconsistent with sections 404.005 to 404.094 of this act
*
.
3. If the probate division of the circuit court appoints a guardian or conservator for a minor after notice and hearing, the court may specify in an order the duties and responsibilities of the minor's legal representatives and custodians and the manner in which they shall coordinate the exercise of their respective powers and duties for and on behalf of the minor.
4. Upon the filing of any petition as provided in sections 404.005 to 404.094 of this act
*
, the court shall issue an order directed to such persons and returnable on such notice as the court may require, to show cause why the relief prayed for in the petition should not be granted and, in due course, shall proceed to grant such relief as the court finds to be in the best interest of the minor beneficiary of the custodianship.
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(L. 1985 S.B. 35, et al. § 14, A.L. 1989 H.B. 145)
*"This act" (H.B. 145, 1989) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.093 - Conflicts of interest — guardian or conservator ad litem appointed, when, compensation.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.093. Conflicts of interest — guardian or conservator ad litem appointed, when, compensation. —
1. Notwithstanding any other provision of law, if it is suggested in a petition filed by the minor, a creditor, a person interested in the welfare of the minor, or other interested person, including a member of the minor's family who may have a property right or claim against or an expectancy, reversionary or other interest in the estate of the minor, or if it affirmatively appears to the court that there is a possible conflict of interest between the minor and the custodian, the court may appoint a guardian or conservator ad litem to represent the minor in any proceeding to adjudicate any right affected by the possible conflict of interest. The guardian or conservator ad litem shall have only such authority as is provided in the order of appointment and shall serve until discharged by the court.
2. If a court appoints a guardian or conservator ad litem for the minor, the court may, by order entered in the proceeding, provide reasonable compensation and reimbursement for expenses for the guardian or conservator ad litem and, in appropriate cases, allow the payment out of the custodial estate of the minor or enter a judgment for the amount as costs against some other person who is a party to the proceeding and whose conduct is determined by the court as giving rise to the necessity for the appointment of the guardian or conservator ad litem.
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(L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.094 - Law of Missouri to apply, when — other state's laws applicable, when.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1993
404.094. Law of Missouri to apply, when — other state's laws applicable, when. —
1. Sections 404.005 to 404.094 apply to a transfer that refers to the Missouri transfers to minors law in the designation under section 404.047 by which the transfer is made if at the time of the transfer, the transferor, the minor or the custodian is a resident of this state or the custodial property is located in this state. The custodianship so created remains subject to sections 404.005 to 404.094 despite a subsequent change in residence of a transferor, the minor or the custodian, or the removal of custodial property from this state.
2. A person designated as custodian under sections 404.005 to 404.094 is subject to personal jurisdiction in this state with respect to any matter relating to the custodianship.
3. A transfer that purports to be made and which is valid under the uniform transfers to minors law, the uniform gifts to minors law, or a substantially similar law, of another state is governed by the law of the designated state and may be executed and is enforceable in this state if at the time of the transfer, the transferor, the minor or the custodian is a resident of the designated state or the custodial property is located in the designated state.
4. A transfer that purports to be made under the uniform transfers to minors law of Missouri or the minors custodian law of Missouri is governed by sections 404.005 to 404.094.
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(L. 1985 S.B. 35, et al. § 15, A.L. 1993 S.B. 277)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.400 - Law, how cited.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1986
404.400. Law, how cited. —
Sections 404.400 to 404.650 may be cited as the "Missouri Personal Custodian Law".
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(L. 1986 S.B. 651 § 15)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.420 - Personal custodian established by adult beneficiary — who may serve — revocation — effect — powers, duties and immunities of custodian — single custodian may serve more than one beneficiary.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.420. Personal custodian established by adult beneficiary — who may serve — revocation — effect — powers, duties and immunities of custodian — single custodian may serve more than one beneficiary. —
1. An adult person who is not an incapacitated person may transfer property which he owns to any adult person or financial institution as personal custodian to hold and administer for him as beneficiary of a personal custodianship under sections 404.400 to 404.650. A transfer of property to a personal custodian made by a beneficiary in the manner prescribed in section 404.540 is revocable by the beneficiary in the manner prescribed in sections 404.560 and 404.570. Ownership of the property transferred remains indefeasibly vested in the beneficiary, subject to the personal custodianship provided in sections 404.400 to 404.650 for the benefit of the beneficiary.
2. By transferring property to a personal custodian under sections 404.400 to 404.650, the beneficiary incorporates in the transfer all the provisions of sections 404.400 to 404.650 and grants to the personal custodian, and third persons dealing with the personal custodian, the respective powers, rights and immunities provided in sections 404.400 to 404.650. By holding property for a beneficiary as personal custodian under sections 404.400 to 404.650, the personal custodian assumes the obligation to administer the custodial property for the beneficiary as prescribed in sections 404.400 to 404.650 and the provisions of any written agreement between the beneficiary and personal custodian.
3. Only one person may be personal custodian under sections 404.400 to 404.650 for the property placed in a personal custodianship, but a beneficiary may transfer custody of different property to another personal custodian under sections 404.400 to 404.650. A person may be a personal custodian of property for more than one beneficiary, but the personal custodian shall separately hold and administer the custodial property for each beneficiary unless the property is transferred to the personal custodian for the use and benefit of multiple beneficiaries in accordance with subdivision (6) of subsection 1 of section 404.540.
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(L. 1986 S.B. 651 § 2 subsecs. 1, 2, 4, A.L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.430 - Incapacitation of beneficiaries, effect on powers and duties of custodian — immunities of third parties.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1986
404.430. Incapacitation of beneficiaries, effect on powers and duties of custodian — immunities of third parties. —
The incapacitation of a beneficiary who has transferred property to a personal custodian does not terminate the personal custodianship, directions given by the beneficiary to the personal custodian, the designation of a successor personal custodian, any of the powers or authorities of the personal custodian or the immunities of third persons acting on directions of the personal custodian. When a beneficiary becomes incapacitated, the personal custodian shall hold and administer the custodial property in accordance with the provisions of sections 404.400 to 404.650 applicable to incapacitated beneficiaries and the provisions of any written agreement between the beneficiary and the personal custodian.
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(L. 1986 S.B. 651 § 2 subsec. 3)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.440 - Transfer of property to personal custodian for incapacitated beneficiary — effect — powers, duties, and immunities of custodian — single custodian may serve more than one beneficiary.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1989
404.440. Transfer of property to personal custodian for incapacitated beneficiary — effect — powers, duties, and immunities of custodian — single custodian may serve more than one beneficiary. —
1. Property may be transferred to an adult beneficiary, including a beneficiary who is or may become an incapacitated person on or after the date of the transfer, by transferring the property to a personal custodian for the beneficiary under sections 404.400 to 404.650.
2. By transferring property to a personal custodian for a beneficiary under sections 404.400 to 404.650, the transferor incorporates in the transfer all the provisions of sections 404.400 to 404.650 and grants to the personal custodian and third persons dealing with the personal custodian, the respective powers, rights and immunities provided in sections 404.400 to 404.650. By holding property for a beneficiary as personal custodian under sections 404.400 to 404.650, the personal custodian assumes the obligation to administer the custodial property for the beneficiary as prescribed in sections 404.400 to 404.650 and the provisions of any written agreement between the transferor and personal custodian.
3. Only one person may be personal custodian under sections 404.400 to 404.650 of the property transferred. A person may be a personal custodian of property for more than one beneficiary, but the personal custodian shall separately hold and administer the custodial property for each beneficiary unless the property is transferred to the personal custodian for the use and benefit of multiple beneficiaries in accordance with subdivision (6) of subsection 1 of section 404.540.
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(L. 1986 S.B. 651 § 3 subsecs. 1, 4, 5, A.L. 1989 H.B. 145)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.450 - Present transfer, effect.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1986
404.450. Present transfer, effect. —
A present transfer of property to a personal custodian for a beneficiary, made by a transferor in the manner prescribed in subdivisions (1), (2), (3) and (5) of subsection 1 of section 404.540, is irrevocable and indefeasibly vests ownership of the property in the beneficiary subject to the personal custodianship provided in sections 404.400 to 404.650 for the benefit of the beneficiary, and neither the beneficiary nor an incapacitated beneficiary's legal representative has any right, power, duty or authority with respect to the custodial property except as prescribed in sections 404.400 to 404.650.
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(L. 1986 S.B. 651 § 3 subsec. 2)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.460 - Future transfers of property revocable by donor, exception.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1986
404.460. Future transfers of property revocable by donor, exception. —
A provision in a will, trust, power of appointment, benefit plan, life or endowment insurance policy, annuity or other contract, or a pay or transfer on death direction, for a transfer of property to be made in the future to a custodian for a beneficiary, made by a donor in the manner prescribed in subdivision (4) of subsection 1 of section 404.540, remains revocable by the donor until the property becomes transferable in accordance with the terms of the governing instrument to the beneficiary or a personal custodian for the beneficiary under sections 404.400 to 404.650, unless expressly made irrevocable at the time provision for the gift is made or subsequently.
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(L. 1986 S.B. 651 § 3 subsec. 3)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.470 - Custodian designation by donor on present transfer, who may serve.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1986
404.470. Custodian designation by donor on present transfer, who may serve. —
A donor making a present transfer of property to a beneficiary may designate and transfer the property to any adult person or financial institution, including the donor, as personal custodian for the beneficiary under sections 404.400 to 404.650.
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(L. 1986 S.B. 651 § 4 subsec. 1)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 404 - Transfers to Minors — Personal Custodian and Durable Power of Attorney › Section 404.480 - Custodian designation by donor for future transfer, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation.

Title XXVI TRADE AND COMMERCE
Chapter 404
• Effective - 28 Aug 1986
404.480. Custodian designation by donor for future transfer, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation. —
1. A donor making a future transfer of property to a beneficiary under a will, trust, deed, power of appointment, benefit plan, life or endowment insurance policy, annuity or other contract, or a pay or transfer on death direction, may revocably designate, or grant to another person a general or limited power to revocably designate, any adult person or financial institution, including the holder of the power, as personal custodian under sections 404.400 to 404.650 for a beneficiary who may be an incapacitated person at the time the property becomes transferable.
2. When the property becomes transferable to the beneficiary, the donor's personal representative, trustee, benefit plan, insurance company or contract obligor shall transfer the property to the designated personal custodian in the manner prescribed in subdivisions (1), (2), (3) and (5) of subsection 1 of section 404.540 for the type of property to be transferred. If, at the time the property becomes transferable, the beneficiary is not an incapacitated person, the personal custodian designation shall lapse and the property may be transferred directly to the beneficiary.
3. The designation of a personal custodian for a future transfer of property may include the designation of one or more substitute personal custodians to whom the property shall be transferred in the order named in the event the prior named personal custodian declines or is not qualified to serve as personal custodian, or is deceased or incapacitated. A donor or a person exercising a power from a donor may revoke or change the designation of a personal custodian or substitute personal custodian for a future transfer of property by revoking the designation or making a new designation before the property becomes transferable.
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(L. 1986 S.B. 651 § 4 subsec. 2)