HB 239 -- CONSERVATOR'S INVESTMENT IN PROPERTY (Jones, 89)

COMMITTEE OF ORIGIN:  Committee on Financial Institutions

Currently, a conservator's investment of moneys from an estate in
real or personal property must be authorized by the court.  This
bill allows a conservator to invest the estate's liquid assets
without court authorization or approval unless the court makes a
finding on the record that the investment is not reasonable and
prudent or if it is otherwise restricted or provided by the will
of the decedent.

If an investment advisor is retained by the conservator, the
investment advisor must acknowledge in writing to the conservator
that he or she is acting as an investment fiduciary on the
account.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:24 am