In addition to any other banking authority, a bank or trust company may act as a custodian for any entity, public or private, and place funds in any other financial institutions, provided such funds are placed in deposits and insured by the Federal Deposit Insurance Corporation.
Mo. Rev. Stat. § 362.112
Bank or trust company may act as custodian, when
Known as the Missouri Family Trust Company Act
The act spans §§ 362–362 (204 sections).
Effective: 28 Aug 2004; (L. 2004 S.B. 1093)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.