HCS SB 304 -- REMOVAL OF CORPORATE TRUSTEES SPONSOR: Klarich (Monaco) COMMITTEE ACTION: Voted "do pass by consent" by the Committee on Judiciary by a vote of 17 to 0. This substitute allows settlors, co-trustees, or beneficiaries of a trust to petition for removal of a successor corporate trustee. The court may suspend, restrict, or remove such a trustee upon certain findings. The court will appoint a successor if the trustee is removed, except where the trust provides for a co-trustee or successor trustee. The trust must pay the trustee's attorney fees if the trustee is not removed by the court. FISCAL NOTE: No impact on state funds. PROPONENTS: Supporters say that the bill is necessary to help effectuate the wishes and intentions of trust settlors. Testifying for the bill were Senator Klarich; and Missouri Bankers Association. OPPONENTS: There was no opposition voiced to the committee. Julie Jinkens McNitt, Legislative AnalystCopyright (c) Missouri House of Representatives