In addition to any other credit union authority, a credit union 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 federal deposit insurance.
Mo. Rev. Stat. § 370.400
Credit union may act as custodian, when
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.