Bill Text: MO HB1135 | 2014 | Regular Session | Introduced

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Bill Title: Specifies that provisions in a trust instrument requiring mediation or arbitration are enforceable, except for provisions relating to the validity of the trust

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-02-19 - HCS Voted Do Pass (H) [HB1135 Detail]

Download: Missouri-2014-HB1135-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1135

97TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVE AUSTIN.

4560L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To amend chapter 456, RSMo, by adding thereto one new section relating to the mediation of trust provisions.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 456, RSMo, is amended by adding thereto one new section, to be known as section 456.2-205, to read as follows:

            456.2-205. 1. Subject to the exception in subsection 2 of this section, a provision in a trust instrument requiring the mediation or arbitration of disputes between or among the beneficiaries, a fiduciary, a person granted nonfiduciary powers under the trust instrument, or any combination of such persons is enforceable.

            2. A provision in a trust instrument requiring the mediation or arbitration of disputes relating to the validity of a trust is not enforceable unless all interested persons with regard to the dispute consent to the mediation or arbitration of the dispute.

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