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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

previous next Effective - 28 Aug 1983bottom

  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)


---- end of effective   28 Aug 1983 ----

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