reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-707 - Amendment of pre-effective-date financing statement.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 01 Jul 2001, see footnote
400.9-707. Amendment of pre-effective-date financing statement. —
(a) In this section,
"pre-effective-date financing statement"
means a financing statement filed before July 1, 2001.
(b) After July 1, 2001, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Except as otherwise provided in subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after July 1, 2001, only if:
(1) The pre-effective-date financing statement and an amendment are filed in the office specified in section 400.9-501;
(2) An amendment is filed in the office specified in section 400.9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies section 400.9-706(c); or
(3) An initial financing statement that provides the information as amended and satisfies section 400.9-706(c) is filed in the office specified in section 400.9-501.
(d) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under section 400.9-705(d) and (f) or section 400.9-706.
(e) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after July 1, 2001, by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies section 400.9-706(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 as the office in which to file a financing statement.
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(L. 2001 S.B. 288)
Effective 7-01-01
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-708 - Persons entitled to file initial financing statement or continuation statement.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 01 Jul 2001, see footnote
400.9-708. Persons entitled to file initial financing statement or continuation statement. —
A person may file an initial financing statement or a continuation statement under this part if:
(1) The secured party of record authorizes the filing; and
(2) The filing is necessary under this part:
(A) To continue the effectiveness of a financing statement filed before July 1, 2001; or
(B) To perfect or continue the perfection of a security interest.
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(L. 2001 S.B. 288)
Effective 7-01-01
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-709 - Priority.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 01 Jul 2001, see footnote
400.9-709. Priority. —
(a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1, 2001, former article 9 determines priority.
(b) For purposes of section 400.9-322(a), the priority of a security interest that becomes enforceable under section 400.9-203 of this act dates from July 1, 2001, if the security interest is perfected under this act by the filing of a financing statement before July 1, 2001, which would not have been effective to perfect the security interest under former article 9. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.
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(L. 2001 S.B. 288)
Effective 7-01-01
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-801 - This act reference.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2013
400.9-801. This act reference. —
For purposes of this section and sections 400.9-802 to 400.9-809, the phrase "this act" shall refer to sections 400.9-101 to 400.9-710.
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(L. 2013 H.B. 212)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-802 - Savings clause.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2014, 2 histories
400.9-802. Savings clause. —
(a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created prior to August 28, 2013.
(b) This act does not affect an action, case, or proceeding commenced before this act takes effect.
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(L. 2013 H.B. 212, A.L. 2014 H.B. 1376)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-803 - Security interest perfected before effective date.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2013
400.9-803. Security interest perfected before effective date. —
(a) A security interest that is a perfected security interest immediately before this act takes effect is a perfected security interest under article 9 as amended by this act if, when this act takes effect, the applicable requirements for attachment and perfection under article 9 as amended by this act are satisfied without further action.
(b) Except as otherwise provided in section 400.9-805, if, immediately before this act takes effect, a security interest is a perfected security interest, but the applicable requirements for perfection under article 9 as amended by this act are not satisfied when this act takes effect, the security interest remains perfected thereafter only if the applicable requirements for perfection under article 9 as amended by this act are satisfied within one year after this act takes effect.
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(L. 2013 H.B. 212)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-804 - Security interest unperfected before effective date.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2013
400.9-804. Security interest unperfected before effective date. —
A security interest that is an unperfected security interest immediately before this act takes effect becomes a perfected security interest:
(1) Without further action, when this act takes effect if the applicable requirements for perfection under article 9 as amended by this act are satisfied before or at that time; or
(2) When the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.
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(L. 2013 H.B. 212)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-806 - When initial financing statement suffices to continue effectiveness of financing statement.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2014, 2 histories
400.9-806. When initial financing statement suffices to continue effectiveness of financing statement. —
(a) The filing of an initial financing statement in the office specified in section 400.9-501 continues the effectiveness of a financing statement filed before this act takes effect if:
(1) The filing of an initial financing statement in that office would be effective to perfect a security interest under article 9 as amended by this act;
(2) The pre-effective-date financing statement was filed in an office in another state; and
(3) The initial financing statement satisfies subsection (c).
(b) The filing of an initial financing statement under subsection (a) continues the effectiveness of the pre-effective-date financing statement:
(1) If the initial financing statement is filed before this act takes effect, for the period provided in unamended section 400.9-515 with respect to an initial financing statement; and
(2) If the initial financing statement is filed after this act takes effect, for the period provided in section 400.9-515 as amended by this act with respect to an initial financing statement.
(c) To be effective for purposes of subsection (a), an initial financing statement must:
(1) Satisfy the requirements of section 400.9-500
*
, et. seq., as amended by this act for an initial financing statement;
(2) Identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) Indicate that the pre-effective-date financing statement remains effective.
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(L. 2013 H.B. 212, A.L. 2014 H.B. 1376)
*Section 400.9-500 does not exist.
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-807 - Amendment of pre-effective-date financing statement.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2013
400.9-807. Amendment of pre-effective-date financing statement. —
(a) In this section, the term
"pre-effective-date financing statement"
means a financing statement filed before this act takes effect.
(b) After this act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in article 9 as amended by this act. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.
(c) Except as otherwise provided in subsection (d), if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this act takes effect only if:
(1) The pre-effective-date financing statement and an amendment are filed in the office specified in section 400.9-501;
(2) An amendment is filed in the office specified in section 400.9-501 concurrently with, or after the filing in that office of, an initial financing statement that satisfies section 400.9-806(c); or
(3) An initial financing statement that provides the information as amended and satisfies section 400.9-806(c) is filed in the office specified in section 400.9-501.
(d) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under section 400.9-805(c) and (e) or 400.9-806.
(e) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies section 400.9-806(c) has been filed in the office specified by the law of the jurisdiction governing perfection as provided in article 9 as amended by this act as the office in which to file a financing statement.
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(L. 2013 H.B. 212)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-808 - Person entitled to file initial financing statement or continuation statement.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2013
400.9-808. Person entitled to file initial financing statement or continuation statement. —
A person may file an initial financing statement or a continuation statement under this part if:
(1) The secured party of record authorizes the filing; and
(2) The filing is necessary under this part:
(A) To continue the effectiveness of a financing statement filed before this act takes effect; or
(B) To perfect or continue the perfection of a security interest.
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(L. 2013 H.B. 212)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.9-809 - Priority.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 28 Aug 2013
400.9-809. Priority. —
This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, article 9 as it existed before amendment determines priority.
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(L. 2013 H.B. 212)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.10-101 - Provision for transition.

Title XXVI TRADE AND COMMERCE
Chapter 400
Effective - 28 Aug 1965
400.10-101. Provision for transition. —
Transactions validly entered into before July 1, 1965, and the rights, duties and interests flowing from them remain valid thereafter and may be terminated, completed, consummated or enforced as required or permitted by any statute or other law amended or repealed by this law as though such repeal or amendment had not occurred.
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(L. 1963 p. 503 § 10-102, A.L. 1965 p. 595 § 10-102)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.10-102 - Laws not repealed.

Title XXVI TRADE AND COMMERCE
Chapter 400
Effective - 28 Aug 1965
400.10-102. Laws not repealed. —
(1) The article on documents of title (article 7) does not repeal or modify any laws prescribing the form or contents of documents of title or the services or facilities to be afforded by bailees, or otherwise regulating bailees' businesses in respects not specifically dealt with herein; but the fact that such laws are violated does not affect that status of a document of title which otherwise complies with the definition of a document of title (section 400.1-201).
(2) This law does not repeal sections 403.250 through 403.350, known as the uniform law for simplification of fiduciary security transfers, and if in any respect there is any inconsistency between that law and the article of this law on investment securities (article 8) the provisions of the former law shall control.
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(L. 1963 p. 503 § 10-104, A.L. 1965 p. 595 § 10-104)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.11-103 - General rule, transactions before and after code changes.

Title XXVI TRADE AND COMMERCE
Chapter 400
Effective - 01 Jan 1989, see footnote
400.11-103. General rule, transactions before and after code changes. —
Transactions validly entered into after July 1, 1965, and before January 1, 1989, and which were subject to the provisions of chapter 400, as it reads prior to January 1, 1989, and which would be subject to this section if they had been entered into after January 1, 1989, and the rights, duties and interests flowing from such transactions remain valid after the latter date and may be terminated, completed, consummated or enforced as required or permitted by chapter 400, as it reads after January 1, 1989. Security interests arising out of such transactions which are perfected on January 1, 1989, shall remain perfected until they lapse as provided in chapter 400, as it reads after January 1, 1989, and may be continued as permitted by chapter 400, as it reads after January 1, 1989, except as stated in section 400.11-105.
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(L. 1988 S.B. 583 § 400.11-102)
Effective 1-01-89
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.11-104 - Requirement of filing, transitional provision.

Title XXVI TRADE AND COMMERCE
Chapter 400
Effective - 01 Jan 1989, see footnote
400.11-104. Requirement of filing, transitional provision. —
A security interest for the perfection of which filing or the taking of possession was required under chapter 400, as it reads prior to January 1, 1989, and which attached prior to January 1, 1989, but was not perfected shall be deemed perfected on January 1, 1989, where after January 1, 1989, this chapter permits perfection without filing or authorizes filing in the office or offices where a prior ineffective filing was made.
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(L. 1988 S.B. 583 § 400.11-103)
Effective 1-01-89
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.11-105 - Place of filing, transitional provision.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 01 Jan 1989, see footnote
400.11-105. Place of filing, transitional provision. —
(1) A financing statement or continuation statement filed prior to January 1, 1989, which shall not have lapsed prior to January 1, 1989, shall remain effective for the period provided in chapter 400, as it reads prior to January 1, 1989, but not less than five years after the filing.
(2) With respect to any collateral acquired by the debtor subsequent to January 1, 1989, any effective financing statement or continuation statement described in this section shall apply only if the filing or filings are in the office or offices that would be appropriate to perfect the security interests in the new collateral under chapter 400, as it reads after January 1, 1989.
(3) The effectiveness of any financing statement or continuation statement filed prior to January 1, 1989, may be continued by a continuation statement as permitted by section 400.9-403(4), except that where this chapter requires a filing in an office where there was no previous financing statement, a new financing statement conforming to section 400.11-106 shall be filed in that office.
(4) If the record of a mortgage of real estate would have been effective as a fixture filing of goods described therein if such mortgage had been recorded on January 1, 1989, the mortgage shall be deemed effective as a fixture filing as to such goods under subsection (6) of section 400.9-402 on January 1, 1989.
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(L. 1988 S.B. 583 § 400.11-104)
Effective 1-01-89
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.11-106 - Required refilings.

Title XXVI TRADE AND COMMERCE
Chapter 400
• Effective - 01 Jan 1989, see footnote
400.11-106. Required refilings. —
(1) If a security interest is perfected or has priority on January 1, 1989, as to all persons or as to certain persons without any filing or recording, and if the filing of a financing statement would be required for the perfection or priority of the security interest against those persons after January 1, 1989, the perfection and priority rights of the security interest continue until January 1, 1992. The perfection will then lapse unless a financing statement is filed as provided in subsection (4) or unless the security interest is perfected otherwise than by filing.
(2) If a security interest is perfected when this section takes effect under a law other than this chapter which requires no further filing, refiling or recording to continue its perfection, perfection continues until and will lapse January 1, 1992, unless a financing statement is filed as provided in subsection (4) or unless the security interest is perfected otherwise than by filing, or unless under subsection (3) of section 400.9-302 the other law continues to govern filing.
(3) If a security interest is perfected by a filing, refiling or recording under a law repealed by this chapter which required further filing, refiling or recording to continue its perfection, perfection continues and will lapse on the date provided by the law so repealed for such further filing, refiling or recording unless a financing statement is filed as provided in subsection (4) or unless the security interest is perfected otherwise than by filing.
(4) A financing statement may be filed within six months before the perfection of a security interest would otherwise lapse. Any such financing statement may be signed by either the debtor or the secured party. It must identify the security agreement, statement or notice (however denominated in any statute or other law repealed or modified by this section), state the office where and the date when the last filing, refiling or recording, if any, was made with respect thereto, and the filing number, if any, or book and page, if any, of recording and further state that the security agreement, statement or notice, however denominated, in another filing office under this chapter or under any statute or other law repealed or modified by this chapter is still effective. Section 400.9-401 and section 400.9-103 determine the proper place to file such a financing statement. Except as specified in this subsection, the provisions of section 400.9-403(4) for continuation statements apply to such a financing statement.
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(L. 1988 S.B. 583 § 400.11-105)
Effective 1-1-89
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.11-107 - Priorities, transitional provision.

Title XXVI TRADE AND COMMERCE
Chapter 400
Effective - 01 Jan 1989, see footnote
400.11-107. Priorities, transitional provision. —
Except as otherwise provided in this article, chapter 400, as it reads prior to January 1, 1989, shall apply to any questions of priority if the positions of the parties were fixed prior to January 1, 1989. In other cases questions of priority shall be determined by this chapter.
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(L. 1988 S.B. 583 § 400.11-106)
Effective 1-01-89
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 400 - Uniform Commercial Code › Section 400.11-108 - Interpretation of chapter.

Title XXVI TRADE AND COMMERCE
Chapter 400
Effective - 01 Jan 1989, see footnote
400.11-108. Interpretation of chapter. —
Unless a change in law has clearly been made, the provisions of chapter 400, as it reads after January 1, 1989, shall be deemed declaratory of the meaning of chapter 400, as it reads prior to January 1, 1989.
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(L. 1988 S.B. 583 § 400.11-107)
Effective 1-01-89
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.130 - Definitions.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.130. Definitions. —
As used in sections 402.130 to 402.148, the following terms shall mean:
(1)
"Charitable purpose"
, the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community;
(2)
"Endowment fund"
, an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term shall not include assets that an institution designates as an endowment fund for its own use;
(3)
"Gift instrument"
, a record or records, including an institutional solicitation under which property is granted to, transferred to, or held by an institution as an institutional fund;
(4)
"Institution"
:
(a) A person, other than an individual, organized and operated exclusively for charitable purposes;
(b) A government or governmental subdivision, agency, or instrumentality to the extent that it holds funds exclusively for a charitable purpose; or
(c) A trust that had both charitable and noncharitable interests after all noncharitable interests have terminated;
(5)
"Institutional fund"
, a fund held by an institution exclusively for charitable purposes. It shall not include:
(a) Program-related assets;
(b) A fund held for an institution by a trustee that is not an institution; or
(c) A fund in which a beneficiary that is not an institution has an interest other than an interest that could arise upon violation or failure of the purposes of the fund;
(6)
"Person"
, an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity;
(7)
"Program-related asset"
, an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment;
(8)
"Record"
, information that is inscribed on tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.134 - Appropriation for expenditure or accumulation of endowment fund, amount permitted — factors to consider.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 10 Jun 2014, 2 histories, see footnote
402.134. Appropriation for expenditure or accumulation of endowment fund, amount permitted — factors to consider. —
1. Subject to the intent of the donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless otherwise stated in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith with the care that an ordinary prudent person in a like position would exercise under similar circumstances and shall consider, if relevant, the following factors:
(1) The duration and preservation of the endowment fund;
(2) The purposes of the institution and the endowment fund;
(3) General economic conditions;
(4) The possible effect of inflation or deflation;
(5) The expected total return from income and the appreciation of investments;
(6) Other resources of the institution; and
(7) The investment policy of the institution.
2. To limit the authority to appropriate for expenditure or accumulate under subsection 1 of this section, a gift instrument shall specifically state the limitation.
3. Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only "income", "interest", "dividends", or "rents, issues or profits", or "to preserve the principal intact", or words of similar import:
(1) Create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and
(2) Do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection 1 of this section.
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(L. 2009 H.B. 239, A.L. 2014 H.B. 1523)
Effective 6-10-14
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.136 - Delegation of management and investment, when — requirements of the institution.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.136. Delegation of management and investment, when — requirements of the institution. —
1. Subject to any specific limitation set forth in a gift instrument or law not within sections 402.130 to 402.148, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith with the care that an ordinarily prudent person in a like position would exercise under similar circumstances in:
(1) Selecting an agent;
(2) Establishing the scope and terms of the delegation consistent with the purposes of the institution and the institutional fund; and
(3) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the scope and terms of the delegation.
2. In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.
3. An institution that complies with subsection 1 of this section is not liable for the decisions or actions of an agent to which the function was delegated.
4. By accepting delegation of a management or investment function from an institution that is subject to the laws of this state, an agent submits to the jurisdiction of the courts of this state in all proceedings arising from or related to the delegation or the performance of the delegated function.
5. An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law other than provided for in sections 402.130 to 402.148.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.138 - Release or modification of restrictions permitted, when.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.138. Release or modification of restrictions permitted, when. —
1. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.
2. The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall notify the attorney general of the application, and the attorney general shall be given an opportunity to be heard. To the extent practicable, any modification shall be made in accordance with the donor's probable intention.
3. If a particular charitable purpose or restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the attorney general of the application, and the attorney general shall be given an opportunity to be heard.
4. If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, sixty days after notification to the attorney general, may release or modify the restrictions in whole or in part if:
(1) The institutional fund subject to the restriction has a total value of less than fifty thousand dollars;
(2) More than ten years have lapsed since the fund was established; and
(3) The institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.140 - Applicability.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.140. Applicability. —
Sections 402.130 to 402.148 shall apply to institutional funds existing on or established after August 28, 2009.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.142 - Federal acts, effect of.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.142. Federal acts, effect of. —
As authorized in 15 U.S.C. 7002, as amended, sections 402.130 to 402.148 modify, limit, or supersede
*
the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001, et seq., but do not modify, limit, or supersede 15 U.S.C. Section 7001(a), or authorize electronic delivery of any of the notices described in 15 U.S.C. Section 7003(b).
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(L. 2009 H.B. 239)
*Words "modifies, limits, or supersedes" appear in original rolls.
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.144 - Compliance, determined when.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.144. Compliance, determined when. —
Compliance with sections 402.130 to 402.148 is determined in light of the facts and circumstances existing at the time a decision is made or action is taken and not by hindsight.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.146 - Uniformity of law to be considered in application of law.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.146. Uniformity of law to be considered in application of law. —
In applying and construing sections 402.130 to 402.148, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.148 - Governing boards and directors, law not to amend duties and liabilities of.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2009
402.148. Governing boards and directors, law not to amend duties and liabilities of. —
Nothing in sections 402.130 to 402.148 shall act to amend the status of governing boards or the duties and liabilities of directors under other applicable law.
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(L. 2009 H.B. 239)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.199 - Declaration of policy — contributions to Missouri family trust not to adversely impact other benefits of beneficiaries.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2011, 2 histories
402.199. Declaration of policy — contributions to Missouri family trust not to adversely impact other benefits of beneficiaries. —
1. The general assembly hereby finds and declares the following:
(1) It is an essential function of state government to provide basic support and services for certain persons with disabilities;
(2) Many persons with disabilities lack financial resources and must rely upon the government to provide services and support; and
(3) It is in the best interest of the state and is necessary and desirable for the public health, safety, and welfare to encourage, enhance and foster the ability of individuals with disabilities who reside in Missouri or who reside in one of the eight states adjacent to Missouri, and in the best interests of their families and friends to supplement, but not replace, the services and support provided by state government and other governmental programs.
2. In light of the findings and declarations described in subsection 1 of this section, the general assembly hereby declares that contributions to a trust account administered as part of the Missouri family trust by the Missouri family trust board of trustees as authorized in sections 402.199 to 402.208, shall in no way reduce, impair, or diminish the benefits to which the beneficiary of the trust account is otherwise entitled by law, nor shall the administration of the Missouri family trust or any trust account therein be taken into consideration in determining appropriations for programs or services for persons with disabilities, and unless otherwise prohibited by federal statutes or regulations, all state agencies shall disregard the trust account as a resource when determining the eligibility of a resident for assistance under chapter 208.
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(L. 1991 S.B. 311, A.L. 1993 H.B. 136 merged with S.B. 338, A.L. 1999 S.B. 211, A.L. 2004 H.B. 923, A.L. 2011 S.B. 70)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.202 - Trust accounts, restricted trust accounts, charitable trust — administered as Missouri family trust — pooling permitted — additional board powers.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2011
402.202. Trust accounts, restricted trust accounts, charitable trust — administered as Missouri family trust — pooling permitted — additional board powers. —
1. Trust accounts, restricted trust accounts, and the charitable trust shall be held and administered in trust as the Missouri family trust. The charitable trust, the restricted accounts and the trust accounts shall each be maintained in trust as separate accounts, but may be pooled for purposes of investment and management. Assets of the Missouri family trust shall not be considered state money, assets of the state or revenue for any purposes of the state constitution or statutes.
2. The board of trustees shall act as the trustee of the Missouri family trust. The board of trustees, as trustee, shall administer the Missouri family trust pursuant to the provisions of sections 402.199 to 402.208 and pursuant to the policies, procedures, rules, and regulations of the board of trustees.
3. In addition to the powers and duties granted to the board pursuant to sections 402.199 to 402.208, in its capacity as trustee of the trust the board shall have all powers granted to trustees acting under chapter 456, as now in effect or hereafter amended; provided, that section 456.8-813 regarding the duty to inform and report to the beneficiaries shall not apply to the trust, except as mandated under section 456.1-105.
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(L. 2011 S.B. 70)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.206 - First and third party trusts, account held and administered, how.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2011
402.206. First and third party trusts, account held and administered, how. —
Each first party trust account and third party trust account shall be held and administered in trust as follows:
(1) The board of trustees shall hold, administer, and distribute the principal and income of the trust account, in the discretion of the trustee, in consultation with the co-trustee, for the health, education, and general well-being of the beneficiary, recognizing that the purpose of the trust account is to supplement, not replace, any government benefits for the beneficiary's basic support to which such beneficiary may be entitled;
(2) Expenditure of trust account funds shall be made solely for benefit of the beneficiary, to increase the quality of the beneficiary's life by providing those amenities that cannot otherwise be provided by public assistance or entitlements or other available sources. Permissible expenditures include, but are not limited to, dental, medical, and diagnostic work or treatment that is not otherwise available from public benefits or assistance; private rehabilitative training; supplementary education aid; entertainment; periodic vacations and outings; expenditures to foster the interests, talents, and hobbies of the beneficiary; and expenditures to purchase personal property and services that will make life more comfortable and enjoyable for the beneficiary but that will not defeat his or her eligibility for public benefits or assistance. The trustee, with consultation of the cotrustee, may make payments for a person to accompany the beneficiary on vacations and outings and for the transportation of the beneficiary or of friends and relatives of the beneficiary to visit the beneficiary;
(3) Expenditures of trust account funds shall not be made for the primary support or maintenance of the beneficiary, including basic food or shelter, if, as a result, the beneficiary would no longer be eligible to receive public benefits or assistance to which the beneficiary is then entitled;
(4) The cotrustee, with consent of the trustee, shall not less frequently than annually determine the amount of income or principal or income and principal which may be used to provide noncash benefits and the nature and type of benefits to be provided for the beneficiary. Any net income which is not used shall be added to the principal annually;
(5) In the event that the trustee and the cotrustee shall be unable to agree either on:
(a) The amount of income or principal to be used;
(b) The benefits to be provided; or
(c) The administration of the trust account,
­­then the cotrustee shall have the right to appeal the decision of the trustee in accordance with the rules and regulations established by the board.
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(L. 2011 S.B. 70)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.207 - Charitable trust established, when.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2011
402.207. Charitable trust established, when. —
1. The board of trustees shall establish a charitable trust for the benefit of individuals with disabilities.
2. The board of trustees shall accept contributions to the charitable trust at the termination of trust accounts and other contributions from donors in accordance with policies and procedures adopted by the board of trustees.
3. The trustees shall as necessary determine the amount of income and principal of the charitable trust to be used to provide benefits for individuals with disabilities. Benefits provided shall only be those that have no negative effect on the individual's entitlement to government benefits. Any income not used to provide benefits shall be added to the principal annually.
4. Any person with the consent of the board of trustees may establish a restricted account within the charitable trust and may determine, with the consent of the board of trustees, the class of individuals eligible to be recipients of funds from the restricted account, so long as the eligible recipients are individuals with disabilities as set forth in section 402.200.
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(L. 2011 S.B. 70)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 402 - Trust Funds for Disabled Persons › Section 402.208 - Fees authorized — periodic reports — no property interest in trust account, when.

Title XXVI TRADE AND COMMERCE
Chapter 402
• Effective - 28 Aug 2011
402.208. Fees authorized — periodic reports — no property interest in trust account, when. —
1. The board may establish and collect fees for administering trust accounts established pursuant to the provisions of sections 402.199 to 402.220
*
.
2. The board shall establish policies and procedures for providing periodic reports to the cotrustees of each trust account established pursuant to the provisions of sections 402.199 to 402.220
*
.
3. (1) No beneficiary shall have any vested or property rights or interests in any trust account, nor shall any beneficiary have the power to anticipate, assign, convey, alienate, or otherwise encumber any interest in the income or principal of any trust account.
(2) The income or the principal or any interest of any beneficiary in the trust account shall not be liable for any debt incurred by such beneficiary, nor shall the principal or income of any trust account be subject to seizure by any creditor or any beneficiary under any writ or proceeding in law or in equity.
4. Except for the right of a settlor to withdraw from or revoke any revocable trust account under section 402.205, and the right of any acting cotrustee, other than the original settlor, to withdraw all or a portion of the principal balance of a revocable trust account under section 402.205, neither the settlor nor any acting cotrustee shall have the right to sell, assign, convey, alienate, or otherwise encumber, for consideration or otherwise, any interest in the income or principal of the trust account. The income or the principal or any interest of any beneficiary of a revocable trust account shall not be liable for any debt incurred by the settlor or any acting cotrustee, nor shall the principal or income of the trust account be subject to seizure by any creditor of any settlor or any acting cotrustee under any writ or proceeding in law or in equity.
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(L. 2011 S.B. 70)
*Section 402.220 was repealed by S.B. 70, 2011.
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.250 - Definitions.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.250. Definitions. —
In sections 403.250 to 403.350, unless the context otherwise requires:
(1)
"Assignment"
includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer;
(2)
"Claim of beneficial interest"
includes a claim of any interest by a decedent's legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on his behalf, and includes a claim that the transfer would be in breach of fiduciary duties;
(3)
"Corporation"
means a private or public corporation, association or trust issuing a security;
(4)
"Fiduciary"
means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee;
(5)
"Person"
includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, two or more persons having a joint or common interest, or any other legal or commercial entity;
(6)
"Security"
includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation;
(7)
"Transfer"
means a change on the books of a corporation in the registered ownership of a security;
(8)
"Transfer agent"
means a person employed or authorized by a corporation to transfer securities issued by the corporation.
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(L. 1959 S.B. 241 § 1)
2023 Missouri Revised Statutes › Title XXVI - Trade and Commerce › Chapter 403 - Security Transfers by Fiduciaries › Section 403.260 - Registration in name of fiduciary.

Title XXVI TRADE AND COMMERCE
Chapter 403
• Effective - 28 Aug 1959
403.260. Registration in name of fiduciary. —
A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship, and thereafter the corporation and its transfer agent may assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as such with respect to the particular security.
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(L. 1959 S.B. 241 § 2)