Section 362.590

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.