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.
Mo. Rev. Stat. § 362.590
Bond not required of banks and trust companies, when acting as fiduciaries
Known as the Missouri Family Trust Company Act
The act spans §§ 362–362 (204 sections).
Effective: 28 Aug 1977; (L. 1967 p. 445, A.L. 1971 S.B. 171, A.L. 1977 S.B. 420); (Source: RSMo 1959 § 363.700)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.