State Codes and Statutes

Statutes > Missouri > T31 > C469 > 469_453

Required disbursements from principal.

469.453. 1. A trustee shall make the following disbursements fromprincipal:

(1) The remaining one-half of the disbursements described insubdivisions (1) and (2) of section 469.451;

(2) All of the trustee's compensation calculated on principal as afee for acceptance, distribution or termination, and disbursements made toprepare property for sale;

(3) Payments on the principal of a trust debt;

(4) Expenses of a proceeding or other matter that concerns primarilyan interest in principal;

(5) Premiums paid on a policy of insurance not described insubdivision (4) of section 469.451 of which the trust is the owner andbeneficiary;

(6) Estate, inheritance and other transfer taxes, includingpenalties, apportioned to the trust; and

(7) Extraordinary expenses incurred in connection with the managementand preservation of trust property;

(8) Expenses for a capital improvement to a principal asset, whetherin the form of changes to an existing asset or the construction of a newasset, including special assessments; and

(9) Disbursements related to environmental matters, includingreclamation, assessing environmental conditions, remedying and removingenvironmental contamination, monitoring remedial activities and the releaseof substances, preventing future releases of substances, collecting amountsfrom persons liable or potentially liable for the costs of thoseactivities, penalties imposed under environmental laws or regulations andother payments made to comply with those laws or regulations, statutory orcommon law claims by third parties, and defending claims based onenvironmental matters.

2. If a principal asset is encumbered with an obligation thatrequires income from that asset to be paid directly to the creditor, thetrustee shall transfer from principal to income an amount equal to theincome paid to the creditor in reduction of the principal balance of theobligation.

(L. 2001 H.B. 241, A.L. 2004 H.B. 1511)

State Codes and Statutes

Statutes > Missouri > T31 > C469 > 469_453

Required disbursements from principal.

469.453. 1. A trustee shall make the following disbursements fromprincipal:

(1) The remaining one-half of the disbursements described insubdivisions (1) and (2) of section 469.451;

(2) All of the trustee's compensation calculated on principal as afee for acceptance, distribution or termination, and disbursements made toprepare property for sale;

(3) Payments on the principal of a trust debt;

(4) Expenses of a proceeding or other matter that concerns primarilyan interest in principal;

(5) Premiums paid on a policy of insurance not described insubdivision (4) of section 469.451 of which the trust is the owner andbeneficiary;

(6) Estate, inheritance and other transfer taxes, includingpenalties, apportioned to the trust; and

(7) Extraordinary expenses incurred in connection with the managementand preservation of trust property;

(8) Expenses for a capital improvement to a principal asset, whetherin the form of changes to an existing asset or the construction of a newasset, including special assessments; and

(9) Disbursements related to environmental matters, includingreclamation, assessing environmental conditions, remedying and removingenvironmental contamination, monitoring remedial activities and the releaseof substances, preventing future releases of substances, collecting amountsfrom persons liable or potentially liable for the costs of thoseactivities, penalties imposed under environmental laws or regulations andother payments made to comply with those laws or regulations, statutory orcommon law claims by third parties, and defending claims based onenvironmental matters.

2. If a principal asset is encumbered with an obligation thatrequires income from that asset to be paid directly to the creditor, thetrustee shall transfer from principal to income an amount equal to theincome paid to the creditor in reduction of the principal balance of theobligation.

(L. 2001 H.B. 241, A.L. 2004 H.B. 1511)


State Codes and Statutes

State Codes and Statutes

Statutes > Missouri > T31 > C469 > 469_453

Required disbursements from principal.

469.453. 1. A trustee shall make the following disbursements fromprincipal:

(1) The remaining one-half of the disbursements described insubdivisions (1) and (2) of section 469.451;

(2) All of the trustee's compensation calculated on principal as afee for acceptance, distribution or termination, and disbursements made toprepare property for sale;

(3) Payments on the principal of a trust debt;

(4) Expenses of a proceeding or other matter that concerns primarilyan interest in principal;

(5) Premiums paid on a policy of insurance not described insubdivision (4) of section 469.451 of which the trust is the owner andbeneficiary;

(6) Estate, inheritance and other transfer taxes, includingpenalties, apportioned to the trust; and

(7) Extraordinary expenses incurred in connection with the managementand preservation of trust property;

(8) Expenses for a capital improvement to a principal asset, whetherin the form of changes to an existing asset or the construction of a newasset, including special assessments; and

(9) Disbursements related to environmental matters, includingreclamation, assessing environmental conditions, remedying and removingenvironmental contamination, monitoring remedial activities and the releaseof substances, preventing future releases of substances, collecting amountsfrom persons liable or potentially liable for the costs of thoseactivities, penalties imposed under environmental laws or regulations andother payments made to comply with those laws or regulations, statutory orcommon law claims by third parties, and defending claims based onenvironmental matters.

2. If a principal asset is encumbered with an obligation thatrequires income from that asset to be paid directly to the creditor, thetrustee shall transfer from principal to income an amount equal to theincome paid to the creditor in reduction of the principal balance of theobligation.

(L. 2001 H.B. 241, A.L. 2004 H.B. 1511)