Missouri Laws 404.650 – Law of Missouri to apply, when — other state’s laws applicable, when
1. Sections 404.400 to 404.650 apply to a transfer that refers to the Missouri personal custodian law in the designation under section 404.540 by which the transfer is made if at the time of the transfer the transferor, the beneficiary or the personal custodian is a resident of this state or the custodial property is located in this state. The personal custodianship so created remains subject to sections 404.400 to 404.650 despite a subsequent change in residence of a transferor, the beneficiary or the personal custodian, or the removal of custodial property from this state.
2. A person designated as a personal custodian under sections 404.400 to 404.650 is subject to personal jurisdiction in this state with respect to any matter relating to the personal custodianship.
Terms Used In Missouri Laws 404.650
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Property: includes real and personal property. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
3. A transfer that purports to be made and which is valid under the uniform custodial trust law, personal custodian 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 beneficiary 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 custodial trust law of Missouri or the adult custodian law of Missouri is governed by sections 404.400 to 404.650.