Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

362.475. Deposits of deceased trustee shall be paid to beneficiary. — When any deposit is made by any person describing himself in making the deposit as trustee for another, and no other or further notice of the existence and terms of a legal and valid trust than this description…

[Repealed or reserved.]

362.483. Safe deposit corporation may be granted a certificate of incorporation by director, when — purposes of corporation. — 1. The director of finance may grant a certificate of incorporation for a safe deposit corporation, all of the stock of which will be held by a bank or t…

362.485. Special remedies available to banks doing a safe deposit business. — Every bank and trust company doing a safe deposit business and every safe deposit company owned by a bank or trust company shall be entitled to the following special remedies in enforcing the liabilitie…

362.487. Joint renters of safe deposit boxes authorized — surviving joint renter opens box, lessor's option not required to be present. — 1. Any bank or trust company doing a safe deposit business and any safe deposit company owned by a bank or trust company may enter into a leas…

362.488. Death of lessee, duties of lessor — additional duties by contract. — 1. In the event the sole lessee or all lessees as joint renters named in the lease agreement covering a safe deposit box rental shall die, the lessor by contract may accept the following additional duti…

362.490. Banks exempt from furnishing security for insured deposits — single bank pooling of securities, administrator, requirements. — 1. Notwithstanding any provision of law of this state or of any political subdivision thereof requiring security for deposits in the form of col…

362.495. When payment and withdrawals may be suspended. — Whenever unusual withdrawals from any bank or trust company doing a banking business in this state, organized under the laws of this state are being made, or whenever in the judgment of the president and cashier or preside…

362.500. Shall notify finance director of suspension — duties of commissioner. — 1. Upon the suspension of the payment of checks and withdrawal of assets as authorized by section 362.495, it shall be the duty of the president, cashier, or the chairman of the board of directors of…

362.505. When director shall liquidate. — If the state finance director shall, during the period of sixty days next following the taking possession of any such bank or trust company under the provisions of law, find that such bank or trust company should not be permitted to conti…

362.510. When director shall liquidate. — If the state finance director shall, during the period of sixty days next following the taking possession of any such bank or trust company under the provisions of law, find that such bank or trust company should not be permitted to conti…

362.515. Special deposits — nature — use. — During the period of sixty days next following the taking charge of any such bank or trust company as authorized by law, deposits may be received from the customers of said bank, or trust company and others as special deposits, or trust…

362.520. Banks may close, when — bank holiday, effect of. — 1. Any bank or trust company organized under the laws of the state of Missouri or any national bank doing business in Missouri may remain closed on any Sunday or public holiday, as defined in section 9.010, and, in addit…

362.530. Contributions to charitable agencies. — Anything in any other law of this state to the contrary notwithstanding, every bank and every trust company organized under the laws of this state shall have power to, and may contribute to community funds, or to civic, charitable,…

362.550. Appointment as fiduciary — investments — handling of trust property — effect of merger or consolidation. — 1. When any trust company organized pursuant to the laws of this state shall have been nominated as personal representative of the last will of any deceased person,…

362.560. Trust guaranty fund. — The directors of any state or national bank or trust company qualified to act as fiduciary in this state may from time to time set apart, as a trust guaranty fund, such portion of the profits as they may consider expedient. The fund shall be invest…

362.570. Application of trust guaranty fund. — 1. The trust guaranty fund shall be absolutely pledged for the faithful performance by the bank or trust company of its duties and undertakings under the provisions of subsection 3 of section 362.105 and shall be applied to make good…

362.575. Personal representatives and other persons not liable as stockholders. — No person holding stock in the corporation as personal representative, conservator, or trustee, and no person holding this stock as collateral security shall be personally subject to any liability a…

362.580. Common trust fund authorized. — 1. Any state or national bank or trust company qualified to act as fiduciary in this state may establish common trust funds for the purpose of furnishing investments to itself as fiduciary, or to itself and others as cofiduciaries, or to o…

362.590. Bond not required of banks and trust companies, when acting as fiduciaries. — Any state or national bank or trust company qualified to act as fiduciary in this state shall be permitted to qualify as guardian, executor, administrator, assignee, receiver, trustee, or in an…

362.600. Reciprocal corporate fiduciary powers — certificates of reciprocity. — 1. The term "out-of-state bank or trust company", as used in this section, shall mean: (1) Any bank or trust company now or hereafter organized under the laws of any state of the United States other t…

362.610. Banks and trust companies may merge or consolidate. — Any bank, banks, trust company or trust companies, organized pursuant to the laws of this state, may be merged in any other such bank or trust company, or may be consolidated with any other such bank, banks, trust com…

362.620. Agreement for consolidation. — If the agreement provides for a consolidation, then the agreement shall set out: (1) The terms and conditions of the consolidation and the method of carrying same into effect; (2) The name of the proposed corporation which may be the name i…

362.630. Agreement for merger. — If the agreement provides for a merger, then it shall set out: (1) The names of the companies thereto; (2) The terms and conditions of the merger, and the mode of carrying same into effect; (3) The corporate name of the receiving bank or trust com…

362.640. Agreement for merger or consolidation. — Each bank and trust company which is to be a party to the merger or to the consolidation shall, upon being first authorized by its board of directors by the affirmative vote of a majority of all the members of the board, enter int…

362.650. Certified copies evidence. — A copy of the minutes of the proceedings of the respective boards, and a copy of the agreement certified and verified by the respective cashiers and secretaries of the banks and trust companies wherein the proceedings are had, shall be presum…

362.660. Verified copies of agreement and proceedings shall be submitted to finance director. — A copy of the agreement so executed and the certified and verified copies of the proceedings of the respective boards of directors shall be submitted to the finance director for his ap…

362.670. Finance director shall certify finding within thirty days. — The approval or disapproval by the finance director shall be certified by him in writing to each bank and trust company which is a party to the merger or such consolidation within thirty days after the date of …

362.680. Agreement to be submitted to stockholders, when — exceptions, procedures. — 1. In case of approval by the finance director, the agreement, except as provided in subsection 3 of this section, shall within sixty days after the date of the approval be submitted to the stock…

362.690. Agreement binding, when. — At the time and place fixed by the notice each of the banks and trust companies shall respectively hold a meeting of their respective stockholders for the purpose of considering the agreement, and if the stockholders of each of the banks and tr…

362.700. Agreement for merger becomes effective, when. — 1. If the agreement is so approved and ratified by the stockholders of each of the respective banks and trust companies, then in case the agreement provides for a merger, a copy of the minutes of the respective stockholders…

362.710. Agreement for consolidation becomes effective, when. — 1. If the agreement is approved and ratified by the stockholders of the respective banks and trust companies, then in case the agreement provides for a consolidation of the banks and trust companies which are parties…

362.720. Receiving or consolidated company shall issue new certificates for old, when. — The receiving bank or trust company under the merger, or the consolidated corporation, may require the return of the original certificate held by each stockholder in either of the merging cor…

362.730. Dissenting stockholder may receive reasonable value of his or her stock — limitation, petition, hearing, appointment of appraisers. — 1. If any merger or consolidation takes effect pursuant to the provisions of sections 362.610 to 362.810, or in the event of a reverse st…

362.740. Finding and report of appraisers — compensation — notice to be given by clerk of court — minority discount. — 1. The appraisers so appointed and qualified shall meet at the time and place so designated by the court or judge, and shall proceed to ascertain and determine t…

362.750. Exceptions to appraisal, review, new appraisal, final judgment — stock to be surrendered. — Within twenty days after the filing of the appraisal, exceptions in writing may be filed thereto by any party interested. If exceptions are so filed the court shall review the app…

362.760. Cost of proceedings, how taxed. — The cost of the proceedings to determine the value of stock, as above provided for, up to and including the filing of the report of the appraisers, shall be paid by the receiving or consolidated bank or trust company, and the court shall…

362.765. Definitions — state-chartered bank merger with nonbank subsidiaries or nonbank affiliates — procedure. — 1. As used in this section, the following terms mean: (1) "Nonbank affiliate", any nonbank business entity of which a bank holding company holds control, as defined u…

362.770. Corporate existence of old merged into new company — title to property. — The corporate existence of the merging corporation or corporations shall be merged into that of receiving bank or trust company, or in the event of consolidation the corporate existence of the cons…

362.780. New company succeeds to fiduciary relations of old. — 1. If the receiver corporation or the consolidated corporation is to have fiduciary powers, the receiving corporation under merger or the new corporation under consolidation shall become, without further act or deed, …

362.790. New company liable for obligations of old. — The rights, obligations and relations of either of the merged corporations or of the consolidating corporations, in respect to any person, creditor, depositor, trustee or beneficiary of any trust, shall remain unimpaired, and …

362.800. Pending actions not to abate — substitution. — A pending action or other judicial proceeding to which any corporation that is so merged or so consolidated is a party shall not be deemed to have abated or to have discontinued by reason of the merger or consolidation, but …

362.810. Trust and fiduciary relations of old companies continue in new. — If any bank having fiduciary powers or any trust company which merges with or shall have merged with another, or if any bank having fiduciary powers or any trust company which consolidates with or shall ha…

362.820. Notice to director of division of finance prior to acquisition of trust company — disapproval of acquisition — exceptions — disapproval, grounds. — 1. No person, acting directly, indirectly, or through or in concert with one or more other persons, shall directly or indir…

362.900. Declaration of intent. — All of the provisions of chapter 362, RSMo 1959 and RSMo 1965 Supplement, whether or not repealed and reenacted by sections 361.010 to 362.810 shall, after October 13, 1967, apply equally to banks and trust companies, unless otherwise clearly ind…

362.910. Definitions. — As used in sections 362.910 to 362.940, unless the context clearly indicates otherwise, the following terms mean: (1) "Bank", any bank, trust company or national banking association which accepts demand deposits and makes loans, and which has its principal…

362.915. Limitation on bank holding company — total deposits, how computed. — It is unlawful for any bank holding company to obtain control of any bank or depository financial institution if the total deposits in such bank or institution together with the total deposits in all ba…

362.920. Procedure to obtain order allowing acquisition — duty of director. — 1. A bank holding company which seeks to acquire control of a bank or a bank holding company shall file with the division of finance a copy of any application which the bank holding company is required …

362.923. Bank holding companies, examination of, when — considered new business entity, when. — 1. The director of the division of finance may enter into cooperative and reciprocal agreements with the federal reserve banks for periodic examination of bank holding companies on a j…

362.930. Injunctive relief, when. — Any court of competent jurisdiction may enjoin violations of subsection 1 of section 362.920. Any bank adversely affected by any such violation, any banking organization having statewide membership, and the director of finance shall have standi…