☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

< > Effective - 28 Aug 2024, 3 histories    bottom

  362.1040.  Organizational instruments, requirements. — 1.  One or more persons may subscribe to an organizational instrument in writing for the purpose of forming a family trust company, subject to the conditions prescribed by law.

  2.  The organizational instrument of a family trust company shall set forth all of the information required under chapter 347 or 351, as applicable, and the following:

  (1)  The name of the company, which shall distinguish the company from any other nonfamily trust company or family trust company formed or engaging in business in this state.  If the word "trust" is included in the name, it shall be immediately preceded by the word "family" so as to distinguish the entity from a nonfamily trust company operating under this chapter.  This subdivision shall not apply to a foreign family trust company using a fictitious name that is registered and maintained in this state pursuant to the requirements administered by the secretary of state and that distinguishes the foreign family trust company from a nonfamily trust company authorized to operate under this chapter;

  (2)  A statement that the purpose for which the company is formed is to engage in any and all activities permitted under sections 362.1010 to 362.1117; and

  (3)  A statement affirming that the family trust company shall not engage in trust company business with the general public.

  3.  The term "trust company" in the name adopted by a family trust company shall not be deemed to violate section 362.425.

­­--------

(L. 2017 H.B. 292, A.L. 2020 S.B. 599, A.L. 2024 S.B. 1359)


---- end of effective  28 Aug 2024 ----

use this link to bookmark section  362.1040


 - All versions
Effective End
362.1040 8/28/2024
362.1040 8/28/2020 8/28/2024
362.1040 8/28/2017 8/28/2020

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House