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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

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  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)


---- end of effective   28 Aug 1999 ----

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