Title XXVI, TRADE AND COMMERCE
15 chapters · 912 sections in this title.
§ 404.005 RSMo Law, how cited
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404.005. Law, how cited. — Sections 404.005 to 404.094 may be cited as the "Missouri Transfers to Minors Law". -------- (L. 1985 S.B. 35, et al. § 16)
§ 404.007 RSMo Definitions
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404.007. Definitions. — As used in sections 404.005 to 404.094, unless the context otherwise requires, the following terms shall mean: (1) "Adult", an individual who has attained the age of twenty-one years, notwithstanding that an individual may be an adult at a different age un…
§ 404.011 RSMo Transfer of property to a minor by transferring to a custodian, effect — power limitations
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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.…
§ 404.014 RSMo Present transfer of property, effect
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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 t…
§ 404.016 RSMo Future transfers of property are revocable by donor, exception
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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 ma…
§ 404.018 RSMo Custodian and third persons dealing with custodian, powers, duties, immunities
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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 gran…
§ 404.021 RSMo Single custodianship — but custodian may serve more than one minor
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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…
§ 404.023 RSMo Custodians for present transfers of property, who may serve
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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 40…
§ 404.027 RSMo Custodians for future transfers, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation
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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, lif…
§ 404.031 RSMo Custodian if no appointed conservator, who may serve — approval of court required when — bond required when — court's powers
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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 representa…
§ 404.035 RSMo Qualifications of custodians — transfers to persons not qualified, effect
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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 q…
§ 404.041 RSMo 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
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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 …
§ 404.047 RSMo Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release
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404.047. Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release. — 1. The designation of a custodian and transfer of property to the custodian shall be made in the following manner: (1) If the subject of the custodianship is proper…
§ 404.049 RSMo Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to
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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 fo…
§ 404.051 RSMo Powers of custodian, limitation — termination of custodianship, when, procedure — degree of care required for custodial property
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404.051. Powers of custodian, limitation — termination of custodianship, when, procedure — degree of care required for custodial property. — 1. The custodian shall collect, hold, maintain, manage, invest and reinvest the custodial property. The custodian may accept a transfer of …
§ 404.054 RSMo Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property
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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 cus…
§ 404.057 RSMo Successor custodian designation on renunciation, resignation, death, incapacity, nonresident minor or removal of custodian
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404.057. Successor custodian designation on renunciation, resignation, death, incapacity, nonresident minor or removal of custodian. — 1. A person designated as a custodian may decline to serve by delivering a written renunciation to the person who made the designation or to the …
§ 404.061 RSMo Exemption of third person from liability
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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 …
§ 404.067 RSMo Liability to third persons
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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 assert…
§ 404.071 RSMo Accounting by and determination of liability of custodian — time limitations for minor bringing action
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404.071. Accounting by and determination of liability of custodian — time limitations for minor bringing action. — 1. A minor who has attained the age of fourteen years, the minor's legal representative, an adult member of the minor's family, a person interested in the welfare of…
§ 404.077 RSMo Effect on prior existing custodianship
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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 valid…
§ 404.081 RSMo Uniformity of application and construction — not to be exclusive method of transferring property to a minor
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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 section…
§ 404.087 RSMo Repeal of uniform gifts to minors not to affect transfers — use of word custodian, how defined
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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…
§ 404.091 RSMo Jurisdiction for transfers to minors and custodianship to be probate division of circuit court, procedure — appointment of guardian or conservator, court may specify duties
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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 c…
§ 404.093 RSMo Conflicts of interest — guardian or conservator ad litem appointed, when, compensation
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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 …
§ 404.094 RSMo Law of Missouri to apply, when — other state's laws applicable, when
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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 tra…
§ 404.400 RSMo Law, how cited
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404.400. Law, how cited. — Sections 404.400 to 404.650 may be cited as the "Missouri Personal Custodian Law". -------- (L. 1986 S.B. 651 § 15)
§ 404.410 RSMo Definitions
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404.410. Definitions. — As used in sections 404.400 to 404.660, unless the context otherwise requires, the following terms shall mean: (1) "Adult", an individual who has attained the age of eighteen years, notwithstanding that an adult may be of a different age under sections 404…
§ 404.420 RSMo 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
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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 wh…
§ 404.430 RSMo Incapacitation of beneficiaries, effect on powers and duties of custodian — immunities of third parties
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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 bene…
§ 404.440 RSMo Transfer of property to personal custodian for incapacitated beneficiary — effect — powers, duties, and immunities of custodian — single custodian may serve more than one beneficiary
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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 i…
§ 404.450 RSMo Present transfer, effect
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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 o…
§ 404.460 RSMo Future transfers of property revocable by donor, exception
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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 i…
§ 404.470 RSMo Custodian designation by donor on present transfer, who may serve
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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 be…
§ 404.480 RSMo Custodian designation by donor for future transfer, who may serve — lapse of custodianship, effect — substitute custodians, power to designate — revocation
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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…
§ 404.490 RSMo Custodian designation by person indebted to beneficiary, who may serve — court approval required, court's powers
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404.490. Custodian designation by person indebted to beneficiary, who may serve — court approval required, court's powers. — 1. If there is no appointed conservator for administration of an incapacitated beneficiary's estate, any person indebted to an incapacitated beneficiary, i…
§ 404.500 RSMo Acceptance of additional property by custodian, court approval required, court's powers
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404.500. Acceptance of additional property by custodian, court approval required, court's powers. — When a personal custodianship has been established for a beneficiary, the court may authorize the personal custodian to accept and receive into the personal custodianship any addit…
§ 404.510 RSMo Court's designation of custodian, when — who may serve, court's powers
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404.510. Court's designation of custodian, when — who may serve, court's powers. — If the court determines under chapter 475 that full administration of an incapacitated person's estate is not required, the court may designate and direct that all or a part of the property owned b…
§ 404.520 RSMo Custodian's rights in other property of beneficiary
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404.520. Custodian's rights in other property of beneficiary. — A personal custodian has no right because of designation as personal custodian to possession, control, income or proceeds of any property belonging to the beneficiary that is not transferred to the personal custodian…
§ 404.530 RSMo Qualifications of personal custodians, transfer to person not qualified, effect
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404.530. Qualifications of personal custodians, transfer to person not qualified, effect. — An adult person or financial institution shall not be qualified to be designated personal custodian for property of a beneficiary who is a resident of this state if the person or financial…
§ 404.540 RSMo Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release
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404.540. Transfer of property to custodian, procedure, forms — receipt for delivery of property deemed a release. — 1. The designation of a personal custodian and transfer of property to the personal custodian shall be made in the following manner: (1) If the subject of the custo…
§ 404.545 RSMo Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to
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404.545. Custodial trusts, transfer of property, how — legal title, beneficial title, held how — laws applicable to. — 1. A personal custodianship for an adult beneficiary shall be treated as a custodial trust whenever property is transferred to any adult person or financial inst…
§ 404.550 RSMo Duties and powers of personal custodian, directions of beneficiary, court's powers, contract with beneficiary
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404.550. Duties and powers of personal custodian, directions of beneficiary, court's powers, contract with beneficiary. — 1. The personal custodian shall collect, hold, maintain, manage, invest and reinvest the custodial property. The personal custodian may accept a transfer of a…
§ 404.560 RSMo Termination of custodianship, demand of or at death of beneficiary — TOD agreement with personal custodian absent a will, payment of claims, distribution
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404.560. Termination of custodianship, demand of or at death of beneficiary — TOD agreement with personal custodian absent a will, payment of claims, distribution. — 1. To the extent that the custodial property has not been expended, the personal custodian shall deliver the custo…
§ 404.565 RSMo Multiple beneficiaries of custodial property, administered, how — termination of custodianship, death of beneficiaries, effect
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404.565. Multiple beneficiaries of custodial property, administered, how — termination of custodianship, death of beneficiaries, effect. — 1. During the lifetimes of multiple beneficiaries, ownership of custodial property between a husband and wife is presumed to be held as tenan…
§ 404.570 RSMo Rights of creditors, surviving spouse and unmarried minor children — action for accounting by distributee of nonprobate transfer
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404.570. Rights of creditors, surviving spouse and unmarried minor children — action for accounting by distributee of nonprobate transfer. — 1. If a deceased beneficiary's probate estate is not sufficient to pay claims, taxes and expenses of administration, including statutory al…
§ 404.580 RSMo Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property
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404.580. Compensation and expenses of custodian — bond required, when — custodian's claims not lien on custodial property. — 1. Subject to any written agreement with the beneficiary, a personal custodian is entitled to reimbursement from custodial property for reasonable expenses…
§ 404.590 RSMo Successor custodian designation on renunciation, resignation, death, incapacity or removal of custodian
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404.590. Successor custodian designation on renunciation, resignation, death, incapacity or removal of custodian. — 1. A person designated as a personal custodian may decline to serve by delivering a written renunciation to the person who made the designation or to the transferor…
§ 404.600 RSMo Exemption of third person from liability
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404.600. 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 i…
§ 404.610 RSMo Liability to third persons
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404.610. Liability to third persons. — 1. A claim based on: (i) a contract entered into by a personal 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 personal custodians…