456.033. Effect of registration.
Effect of registration.
456.033. 1. By registering a trust, or accepting the trusteeship ofa registered trust, the trustee submits personally to the jurisdiction ofthe court in any proceeding involving the internal affairs of the trustthat may be initiated by any interested person while the trust remainsregistered. Notice of any such proceeding shall be delivered to thetrustee or mailed to him by ordinary first-class mail at his address aslisted in the registration statement or as thereafter reported to the courtand to his address as then known to the petitioner.
2. To the extent of their interests in the trust, all beneficiariesof a trust registered in this state are subject to the jurisdiction of thecourt of registration for the purposes of proceedings involving internalaffairs of the trust, provided notice is given pursuant to section 472.100,RSMo.
3. "Interested persons" include beneficiaries and any others having aproperty right in or claim against a trust estate which may be affected bya judicial proceeding. It also includes persons and other fiduciariesrepresenting interested persons. The meaning as it relates to particularpersons may vary from time to time and must be determined according to theparticular purposes of, and matter involved in, any proceeding.
4. "Internal affairs" proceedings, without limitation, are thosewhich involve interpretation or construction of the terms of the trust bydeclarations, instructions or judgments as to the existence, nonexistenceand extent of rights, powers, privileges, immunities, duties, liabilitiesand remedies of trustees and beneficiaries in the administration anddistribution of trusts, including but not limited to proceedingsconcerning:
(1) The qualifications, appointment, removal, indemnification,reimbursement, exoneration or surcharge of trustees;
(2) The imposition, change and release of requirements for trustees'bonds;
(3) The employment of agents and compensation to them and totrustees;
(4) The review and settlement of interim and final accounts;
(5) The propriety of investments or of principal and incomeallocations;
(6) The allowance of deviations from or modifications of trust terms;
(7) The ascertainment of beneficiaries or of beneficial interests;
(8) The requirements for release of registration or change ofprincipal place of administration;
(9) The timing and quantity of distributions and dispositions ofassets;
(10) The validity and effect of alienations by beneficiaries, byexercise of powers of appointment or otherwise; and
(11) Terminations of trusts.
(L. 1983 H.B. 117, A.L. 2004 H.B. 1511)*Transferred 2004; formerly 456.430