Modifies the Principal and Income Act to resemble the latest version of the Uniform Fiduciary Income and Principal Act

Summary

The bill rewrites the statutes that govern endowed‑care cemetery trusts, requiring the funds to be held in a Missouri‑based trust with a state‑ or federally‑chartered financial institution and limiting what trustees can do with the money. It affects cemetery operators, trustees, and anyone who benefits from those trusts by standardizing record‑keeping, distribution rules, and legal jurisdiction. The goal is to increase transparency and protect the trust assets.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share