Revisor Home

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 370

previous next Effective - 28 Aug 1988bottom

  370.351.  Credit unions may merge — directors to approve plan, procedure. — 1.  Any two or more credit unions formed under the laws of the state of Missouri and any credit union or unions formed under the laws of the state of Missouri and any credit union formed under the laws of any other state or of the United States which is formed for the same purpose for which a credit union might be formed under the laws of this state, may merge into one of such credit unions.

  2.  The board of directors of each credit union, by resolution adopted by a majority vote of the members of the board, shall approve a plan of merger setting forth:

  (1)  The names of the credit unions proposing to merge and the name of the credit union into which they propose to merge, which is hereinafter designated as the "surviving credit union";

  (2)  The terms and conditions of the proposed merger and the mode of carrying the same into effect;

  (3)  The manner and basis of converting the membership shares of each merging credit union into the membership shares of the surviving credit union;

  (4)  A statement of any changes in the articles of agreement and the bylaws of the surviving credit union to be effected by such merger;

  (5)  Such other provisions with respect to the proposed merger as are deemed necessary or desirable.

­­--------

(L. 1955 p. 254, A.L. 1982 H.B. 1099, A.L. 1988 H.B. 1097)


---- end of effective   28 Aug 1988 ----

use this link to bookmark section  370.351


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@16:11:36.7 27 :)