Section 13.34 Duty of Transferring Entity
| Library | Trusts and Powers 2013 Supp |
F. (§13.34) Duty of Transferring Entity
The NTLM contains no provisions imposing liability on transferring entities. Any liability incurred by a transferring entity is contractual, arising out of its contract with the owner.
Under §§ 461.012 and 461.014, RSMo 2000, a contract is created when the transferring entity accepts an owner’s request to create a beneficiary designation. The terms of the contract are:
the beneficiary designation; whatever other contractual arrangements have been made between the owner and the...
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