reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.510 - When director shall liquidate.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 continue in business, or cannot be reorganized on a sound basis, he shall proceed as provided by law to effect the liquidation thereof.
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(RSMo 1939 § 8006)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.515 - Special deposits — nature — use.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 funds, and paid out on the check of such depositors drawn against their respective balances; but no part of the funds deposited during said period of sixty days shall be an asset of any such bank, or trust company doing a banking business, within the meaning of the banking laws of this state; nor shall any part of such funds so deposited be loaned by any such bank or trust company except upon United States government bonds, or other securities of the government of the United States, or upon the bonds of the state of Missouri, as collateral, allowing a safe margin to meet fluctuations in the market price of such bonds and securities.
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(RSMo 1939 § 8007)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.530 - Contributions to charitable agencies.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1951
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, philanthropic, or benevolent instrumentalities conducive to public welfare, such sums as the board of directors of the particular bank or trust company may deem expedient and in the interest of the bank or trust company.
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(L. 1951 p. 286 § 1)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.560 - Trust guaranty fund.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 invested in such securities only as are legal for the investment of trust funds. The accounts of this fund shall be kept in the trust department.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.210)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.570 - Application of trust guaranty fund.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2021, 2 histories
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 any default in the performance. The pledge and liability shall not in any way relieve the stock and general funds of the bank or trust company, but creditors under the subdivisions shall have an equal claim with other creditors upon the capital and other property of the bank or trust company in addition to the security hereby given, and in addition to the deposit made with the finance director under the provisions of section 362.590.
2. No portion of the trust guaranty fund shall be transferred to the general capital while the bank or trust company has undertakings of the kinds mentioned in subsection 3 of section 362.105, for whose performance bonds are required from individuals, outstanding and uncompleted, but income therefrom, if not required at any dividend time to make good such undertakings, may be added to and disposed of with the general income of the bank or trust company.
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(L. 1967 p. 445, A.L. 2021 S.B. 106)
(Source: RSMo 1959 § 363.220)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.575 - Personal representatives and other persons not liable as stockholders.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1983
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 as stockholder in the corporation; but the person pledging the stock shall be considered as holding the same, and shall be liable as stockholder accordingly. And the estate and funds in the hands of the personal representatives, conservators, or trustees shall be liable in like manner and to the same extent as the testator or intestate, or the protectee or person interested in the trust fund would have been if he had been living and competent to act and hold in his own name.
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(L. 1967 p. 445, A.L. 1983 S.B. 44 & 45)
(Source: RSMo 1959 § 363.240)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.580 - Common trust fund authorized.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1977
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 other banks and trust companies acting as fiduciaries or cofiduciaries. Funds may be invested in such common trust fund only if the investment is not prohibited by the instrument, judgment, decree, or order creating the fiduciary relationships, and if, in the case of cofiduciaries, the banks or trust companies procure the consent of their cofiduciaries to the investment.
2. This section shall apply to fiduciary relationships now in existence or hereafter established.
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(L. 1967 p. 445, A.L. 1977 S.B. 250)
(Source: RSMo 1959 § 363.225)
(1967) Only a bank acting as fiduciary or cofiduciary is eligible to invest trust funds in a common trust fund maintained by the bank, and these funds cannot be transferred or assigned to another person. Leith v. Mercantile Trust Company National Association (A.), 423 S.W.2d 75.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.590 - Bond not required of banks and trust companies, when acting as fiduciaries.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1977
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 any fiduciary capacity, by appointment of any court, or under will, or depositary of money in court, without giving bond as such, and become sole guarantor or surety in or upon any bond required by law to be given in any proceeding in law or equity in any of the courts of this state or other states or of the United States, any other statute to the contrary notwithstanding.
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(L. 1967 p. 445, A.L. 1971 S.B. 171, A.L. 1977 S.B. 420)
(Source: RSMo 1959 § 363.700)
CROSS REFERENCE:
Bonds of political subdivisions lawful security, when, 108.290
(1951) Trust company may be appointed and qualify as executor in accordance with will without complying with this section. State ex rel. v. Stahlhuth, 362 Mo. 67, 239 S.W.2d 515.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.610 - Banks and trust companies may merge or consolidate.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1999
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 company or trust companies, to form a consolidated corporation pursuant to this chapter, on compliance with the provisions of sections 362.610 to 362.810; except that the consolidated corporation shall not be a bank unless one of the parties to the consolidation or merger was a bank, or upon compliance with the provisions of section 362.118, and the consolidated corporation shall not be a trust company unless one of the parties to the consolidation or merger was a trust company, or upon compliance with the provisions of section 362.117. Since federal law permits out-of-state banks to merge with a national bank headquartered in Missouri, any out-of-state bank or trust company may be merged or consolidated with any Missouri bank or trust company, and any Missouri bank or trust company may merge or consolidate with any out-of-state bank or trust company, upon compliance with the provisions of section 362.077.
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(L. 1967 p. 445, A.L. 1997 H.B. 257, A.L. 1999 S.B. 386)
(Source: RSMo 1959 § 363.770)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.620 - Agreement for consolidation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 in whole or in part of any one or more of the corporations which are parties to the agreement;
(3) The name of the city or town and county in this state in which the consolidated corporation is to be located;
(4) The amount of the capital stock of the corporation;
(5) The number of shares into which it is divided and the par value thereof;
(6) That the shares have been subscribed by the persons named therein as the first board of directors as trustees for each of the stockholders of the contracting corporations, and that all of the capital stock has been paid up either in lawful money of the United States, or by the capital stock, surplus and undivided profits of the corporations which are parties to the agreement; provided, that the part of the capital of the consolidated corporation as is paid by the capital, surplus or undivided profits of either one or more of the contracting corporations shall be received only for the amount which may be approved by the director therefor;
(7) That the custody of all such cash and property has been placed in the care and control of the persons named as the first board of directors;
(8) The number of directors and the names and addresses of the directors chosen for the consolidated corporation, and that they may adopt new bylaws for the consolidated company;
(9) The purpose for which the corporation is formed which shall be limited to the purposes as then prescribed by law for trust companies or banks, as the case may be, under this chapter;
(10) The duration of the corporation as may be then permitted by law;
(11) Such other provisions as may be necessary or proper to fully set out the rights of the respective contracting corporations, their stockholders and creditors and the plan of such consolidation.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.800)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.630 - Agreement for merger.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 company under the merger; the name may be the name in whole or in part of any bank or trust company which is a party to the merger;
(4) The names of the persons who shall constitute the board of directors of the receiving company, after the merger is accomplished, provided that the number and the qualifications of the directors shall be in accordance with the provisions of this chapter relating to the number and qualifications of directors of banks and trust companies.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.790)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.640 - Agreement for merger or consolidation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 into an agreement with the other banks and trust companies which are to be parties to the merger or to the consolidation providing for the merger or the consolidation on the terms and conditions therein set out. The agreement shall be in writing, and executed and acknowledged under the respective seals of the banks and trust companies as are parties thereto. The execution and acknowledgment shall be in such form as now or hereafter required by law for execution and acknowledgment of instruments conveying real estate.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.780)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.650 - Certified copies evidence.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 presumptive evidence of the action of the respective boards.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.810)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.660 - Verified copies of agreement and proceedings shall be submitted to finance director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2019, 2 histories
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 approval, and he shall have full power and authority to approve or disapprove the same; provided, that in case the director shall disapprove the agreements so submitted, the banks and trust companies which are parties thereto may submit another plan for a merger or a consolidation under the provisions of this chapter.
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(L. 1967 p. 445, A.L. 2019 S.B. 179)
(Source: RSMo 1959 § 363.820)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.670 - Finance director shall certify finding within thirty days.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 submission of the agreement to him.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.830)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.680 - Agreement to be submitted to stockholders, when — exceptions, procedures.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
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 stockholders of each bank and trust company which is a party to the merger or consolidation.
2. The meeting of the stockholders of each bank and trust company for the purpose shall be called upon notice given as provided in section 362.044.
3. In the event that the director of the division of finance determines that one of the banks which is a party to the merger is in imminent danger of failing and that the merger is necessary to prevent such failure, or that one of the banks which is a party to the merger was formed to take over assets and liabilities of a failed bank, or that the parties to the merger are wholly owned by a bank holding company, he or she shall issue an order to such effect and the merger shall take effect immediately upon the issuance of his or her order approving the merger. In such a case, the agreement of merger, along with a copy of the order of the director of the division of finance approving the merger, shall be filed in the public records of the division of finance. No stockholders' meeting need be held but any stockholder of either bank shall be entitled to exercise the right of a dissenting stockholder pursuant to section 362.730.
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(L. 1967 p. 445, A.L. 1983 H.B. 565, A.L. 1986 H.B. 1195, A.L. 1999 S.B. 386, A.L. 2000 S.B. 896)
(Source: RSMo 1959 § 363.840)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.690 - Agreement binding, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 trust companies respectively shall at their respective meetings vote two-thirds of the stock of their respective banks and trust companies in favor of the agreement, then the agreement shall be valid and binding upon the banks and trust companies.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.850)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.700 - Agreement for merger becomes effective, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
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' meetings at which the agreement is approved, with a copy of the agreement and the director's approval thereof, all certified and verified by the respective secretaries of the meetings, shall be filed in the public records of the division of finance, and a like copy of the minutes, agreement and approval shall be filed with the cashier or secretary of each of the banks and trust companies which are parties to the agreement.
2. Upon the filing for record of the copies as herein required to be filed, the agreement and merger shall become effective according to its terms.
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(L. 1967 p. 445, A.L. 2000 S.B. 896)
(Source: RSMo 1959 § 363.860)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.710 - Agreement for consolidation becomes effective, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
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 thereto, a copy of the minutes of the proceedings of the respective stockholders' meetings at which the agreement is approved, with a copy of the agreement and the finance director's approval thereof, all certified and verified by the respective secretaries of the meetings, shall be filed in the public records of the division of finance and a like copy of the minutes, agreement and approval shall be filed with the cashier or secretary of each of the banks and trust companies party to the agreement.
2. Upon the filing in the public records of the division of finance of a copy of the agreement with the approval of the director, and the proceedings above prescribed, the agreement for the consolidation of the banks and trust companies which are parties thereto shall take effect according to its terms and the consolidation shall thereupon be complete; provided, the legal fees for the incorporation of the consolidated banks or trust companies are paid to the director, the same as if a new corporation were organized for the same amount of capital authorized for the consolidated company.
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(L. 1967 p. 445, A.L. 2000 S.B. 896)
(Source: RSMo 1959 § 363.870)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.720 - Receiving or consolidated company shall issue new certificates for old, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 corporations or in either of the consolidating corporations, unless the certificate or certificates have been lost or destroyed, and shall cancel the original certificates and issue in lieu thereof new certificate or certificates for such number of its own shares as the stockholders may be entitled to receive under the agreement providing for the merger or for the consolidation and according to the terms and conditions contained in the agreement for the merger or consolidation; provided, that if the original certificate or certificates are lost or destroyed, then, before issuance of new certificate or certificates in lieu thereof, the loss or destruction shall be proved by affidavit or otherwise to the satisfaction of the board of directors of the receiving or consolidated corporation, and indemnity satisfactory to the board shall be given.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.880)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.740 - Finding and report of appraisers — compensation — notice to be given by clerk of court — minority discount.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
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 the reasonable cash value of the shares of stock of the respective dissenting stockholders at the time of the merger or consolidation. For this purpose each of the appraisers may administer oaths and the appraisers may hear testimony offered by any party to the proceeding. At the conclusion of the hearing the appraisers shall forthwith determine the value of the shares of stock of each of the dissenting stockholders to the proceeding which shall not be less than the current book value of said stock. The concurrence of at least two of the appraisers shall be necessary to constitute a finding by the appraisers. The report of the appraisers shall be in writing, signed and acknowledged by at least two of them, and filed with the clerk of the court in which the proceeding is pending, together with their qualifying affidavits. The court may fix the compensation to be awarded appraisers, which compensation shall be taxed as costs in the case. The clerk of the court shall, upon the filing of the award or finding by the appraisers, notify each of the parties or their attorneys of record of the filing of the report.
2. To determine the reasonable value of the stock at the time of the merger, consolidation or reverse stock split, such appraisers shall value such stock to include consideration of a minority discount to reflect that these minority shareholders' lack of control over corporate decision making and a marketability discount to reflect the fact that a ready market does not exist for such stock, except as otherwise provided in this section.
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(L. 1967 p. 445, A.L. 2000 S.B. 896)
(Source: RSMo 1959 § 363.900)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.750 - Exceptions to appraisal, review, new appraisal, final judgment — stock to be surrendered.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
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 appraisal and may order, on good cause shown, a new appraisal by other appraisers, or the court may hear evidence touching matters in controversy and take an accounting to ascertain and determine the value of the shares and may make the order that justice, equity and right require. If no exceptions are filed to the report of the appraisers, the court shall enter final judgment approving the report. If any of the orders herein provided for are made in vacation, the vacation orders shall be considered and confirmed by the court. In its judgment the court shall ascertain and determine the value of the shares of stock of the merging bank, banks, trust company or trust companies, of the consolidating banks or trust companies, or of the bank or trust company in a reverse stock split at the time of the merger, consolidation or reverse stock split. When the receiving bank or trust company under the merger, the consolidated bank or trust company under the consolidation or the bank or trust company in a reverse stock split has paid the value of the stock as determined by the court, the stock shall be surrendered and the stockholder shall cease to have any interest in the stock or in the corporate property of the corporation and the corporation shall not hold such stock as treasury stock.
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(L. 1967 p. 445, A.L. 2000 S.B. 896)
(Source: RSMo Supp. 1965 § 363.910)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.760 - Cost of proceedings, how taxed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 make and enter such orders and judgments as to subsequent costs as to the court may seem just and proper in the premises.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.920)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.765 - Definitions — state-chartered bank merger with nonbank subsidiaries or nonbank affiliates — procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2021
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 under section 362.910;
(2)
"Nonbank business entity"
, an entity that is not a bank, trust company, savings and loan association, or savings bank;
(3)
"Nonbank subsidiary"
, any nonbank business entity of which a bank or trust company holds control, as defined under section 362.910.
2. Upon approval by the director of finance, a bank or trust company chartered under this chapter may merge with one or more of its nonbank subsidiaries or nonbank affiliates pursuant to an agreement of merger, provided that the bank or trust company is the surviving institution.
3. The agreement of merger shall be submitted to the director of finance, and the director shall act upon the agreement of merger within thirty days of the submission. In determining whether to approve or deny the merger, the director shall consider the purpose of the transaction, its impact on the safety and soundness of the bank or trust company, and any effect on the bank or trust company's customers. The director of finance may deny a merger if the merger would have a negative effect in any such respect.
4. The decision of the director of finance may be appealed in the same manner as decisions by the director under section 362.040 may be appealed. Should the state banking and savings and loan board decision result in the approval of the agreement of merger, the board may impose such conditions and terms upon the merger as the board deems appropriate.
5. Should an agreement of merger be approved, the director of finance shall provide a certification for the effective date of the merger to the bank or trust company that the bank or trust company may present to the secretary of state or other applicable state business office to demonstrate the completion of the merger.
6. A merger authorized under this section shall not enable a bank or trust company to exercise any right, power, privilege, or benefit that the bank or trust company could not lawfully exercise immediately prior to the merger.
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(L. 2021 S.B. 106)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.770 - Corporate existence of old merged into new company — title to property.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 consolidating companies shall be merged into that of the consolidated bank or trust company; and all and singular the rights, privileges and franchises, and the rights, title and interest in and to all property of whatsoever kind, whether real, personal or mixed, and things in action, and every right, privilege, interest or asset of conceivable value or benefit then existing to which any of the corporations so merging or consolidating shall be entitled at law or in equity shall be fully and finally and without any right of reversion transferred to and vested in the receiving bank or trust company in case of merger or in the consolidated bank or trust company in case of a consolidation, without further act or deed, and the receiving corporation or the consolidated corporation shall have and hold the same in its own corporate right as fully as the same was possessed and held by either of the merging or consolidating corporations from which the rights were, by operation of the provisions of sections 362.610 to 362.810, transferred.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.930)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.780 - New company succeeds to fiduciary relations of old.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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, the successor of the merging or of the consolidating corporation in any and all fiduciary capacities in which the merging or consolidating corporation may be acting at the time of the merger or consolidation, and shall be liable to all beneficiaries as fully as if the receiving or consolidating corporations had continued their separate corporate existence.
2. All and singular the rights and privileges and the right, title and interest in and to all property of whatsoever kind, whether real, personal or mixed, and things in action, and every right, privilege, interest or asset of conceivable value or benefit then existing to which either of the corporations so merging or consolidating shall be entitled at law or in equity in any fiduciary capacity shall fully and finally, and without any right of reversion, be transferred to and vested in the receiving or consolidated corporation, without further act or deed; and the receiving or consolidated corporation shall have and hold the same as fully and in the same fiduciary capacity and for the same purposes, and with the same powers, duties, responsibilities and discretion, as the same were possessed and held by the merging or consolidating corporations from which they were, by operation of the provisions of sections 362.610 to 362.810, transferred; except that if the receiving corporation or the consolidated corporation is to be a bank having no fiduciary powers, all right, title and interest to any property held by one of the parties to the merger or consolidation in a fiduciary capacity shall be transferred to the successor trustee as provided in section 362.118.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.940)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.790 - New company liable for obligations of old.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 the receiving corporation or the consolidated corporation shall, when the merger or consolidation becomes effective, as in this chapter provided, succeed to all such relations, obligations, trust, powers and liabilities and shall execute and perform all duties in relation thereto in the same manner as though it had itself assumed or been clothed with the relation, trust or power, or had itself incurred the obligation or liability; and the liabilities and obligations to creditors of any of the merged corporations, or of any of the consolidating corporations, shall not be impaired by the merger or consolidation; nor shall any obligation or liability of any stockholder in any corporation which is a party to the merger or consolidation be affected by the merger or consolidation, but the obligations and liabilities shall continue as fully and to the same extent as existed before the merger or consolidation; except that if the receiving corporation or the consolidated corporation is to be a bank having no fiduciary powers, the rights, obligations and relations of any trust company which is party to the merger or consolidation with respect to any trustee or beneficiary of any trust shall be turned over to a successor trustee as provided in section 362.118.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.950)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.800 - Pending actions not to abate — substitution.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 may be prosecuted to final judgment, order or decree in the same manner as if the merger or consolidation had not been made; or the receiving corporation or the consolidated corporation may be substituted as a party to the action or proceeding, and any judgment, order or decree may be rendered for or against it that might have been rendered for or against the other corporation if the merger or consolidation had not occurred.
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(L. 1967 p. 445)
(Source: RSMo 1959 § 363.960)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.810 - Trust and fiduciary relations of old companies continue in new.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1983
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 have consolidated with another or other bank or trust companies to form a consolidated bank having fiduciary power or a consolidated trust company shall be nominated and appointed or shall have been nominated or appointed as personal representative, conservator, agent or trustee or in any other trust relation or fiduciary capacity in any will, trust agreement, trust conveyance or any other conveyance or instrument whatsoever prior to the merger or consolidation, even though the will, trust agreement, trust conveyance, or other conveyance or instrument shall not become operative or effective until after the merger or consolidation becomes effective, the office, trust relationship, fiduciary capacity and all of the rights, powers, privileges, duties, discretions and responsibilities, so provided to devolve upon, vest in, or inure to the corporation so nominated or appointed, shall fully and in every respect devolve upon, vest in and inure to and be exercised by the bank or trust company formed by any consolidation to which the bank or trust company so designated shall have been a party, whether there be one or more successive mergers or consolidations.
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(L. 1967 p. 445, A.L. 1983 S.B. 44 & 45)
(Source: RSMo 1959 § 363.970)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.820 - Notice to director of division of finance prior to acquisition of trust company — disapproval of acquisition — exceptions — disapproval, grounds.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1993
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 indirectly acquire control of any trust company or any company that controls a trust company unless the director of the division of finance has been given sixty days prior written notice of the proposed acquisition and within that period the division of finance has not issued a notice disapproving the proposed acquisition. This section shall not apply to any trust company that accepts deposits nor to any trust company which is owned or controlled by a bank holding company as that term is defined in section 362.910.
2. The director of the division of finance may require persons seeking to acquire control of such a trust company to submit such information as he shall deem necessary. The director of the division of finance may disapprove any acquisition upon determining that:
(1) The competence, experience or integrity of any acquiring person or of any of the proposed management personnel indicates that it would not be in the interest of the customers of the trust company or in the interest of the public to permit such person to control the trust company;
(2) The financial condition of any acquiring person is such as might jeopardize the financial stability of the trust company or prejudice the interests of its trust customers; or
(3) The acquiring person fails or refuses to furnish the information requested by the division of finance.
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(L. 1993 H.B. 231 § 1)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.900 - Declaration of intent.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 indicated by words or context. The provisions formerly found in chapter 363, RSMo 1959 and RSMo 1965 Supplement, which are reenacted herein as part of chapter 362, or which are combined with similar provisions in chapter 362, so far as they are the same as those of the prior law, shall be construed as a continuation of such law and not as a new enactment. Where appropriate the words "this chapter" as used in sections 361.010 to 362.810 and as used in the sections of chapter 362 which are not repealed and reenacted by sections 361.010 to 362.810, extend to and include the provisions of chapter 363 prior to its repeal herein.
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(L. 1967 p. 445 § B)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.915 - Limitation on bank holding company — total deposits, how computed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1997
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 banks and depository financial institutions in Missouri controlled by the bank holding company exceed thirteen percent of the total deposits in all depository financial institutions in the state, determined as of December thirty-first of the most recent year for which totals are available, preceding the date the bank holding company files an application with the division of finance as required by sections 362.910 to 362.940. For the purposes of this section,
"depository financial institution"
shall mean any financial institution which accepts deposits and which may protect its customers' funds by insurance through an agency of the federal government. In computing the total bank deposits in all banks controlled by the bank holding company and the bank which the holding company seeks to acquire, there shall be deducted from total deposits, certificates of deposit in the face amount of one hundred thousand dollars or more, deposits from sources outside the United States, and deposits of banks other than banks controlled by the bank holding company.
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(L. 1974 H.B. 1798 § 1 subsec. 2, A.L. 1988 S.B. 768, A.L. 1997 H.B. 257)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.920 - Procedure to obtain order allowing acquisition — duty of director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 02 Jan 1979, see footnote
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 to file with the Board of Governors of the Federal Reserve System, together with such supplemental data as will enable the director of finance to determine if the acquisition is lawful under the provisions of section 362.915. The director of finance shall, within thirty days after receiving the application, issue his order declaring the acquisition to be lawful or unlawful under the provisions of section 362.915. The order of the director shall be the final administrative decision which may be appealed in the circuit court of the county of proper venue within thirty days after the mailing or delivery of notice of the director's order, by any party aggrieved by the order.
2. The director shall also determine if the proposed acquisition of a bank by a bank holding company is consistent with the interests of promoting and maintaining a sound banking system and sound trust companies, the security of deposits and depositors and other customers, the preservation of the liquid position of banks and in the interest of preventing injurious credit expansions and contractions. If the director determines that the proposed acquisition is not consistent with those objectives, he shall, within thirty days of receipt of the application, communicate his objections to the proposed acquisition to the Board of Governors of the Federal Reserve System.
3. The provisions of section 362.915 and subsections 1 and 2 of this section shall not apply in the case of the acquisition of a bank or bank holding company acquired at the request of the director of finance, the Federal Deposit Insurance Corporation or the Board of Governors of the Federal Reserve System in order to prevent the imminent failure of a bank.
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(L. 1974 H.B. 1798 § 1 subsecs. 3, 4, A.L. 1978 H.B. 1634)
Effective 1-02-79