§ 362.207 — Securities held in name of nominee.

Missouri § 362.207

• Jurisdiction: Missouri
• Title XXIV: BUSINESS AND FINANCIAL INSTITUTIONS
• Ch. 362: Banks and Trust Companies

Text

1.  Any state or national bank or trust company qualified to act as a fiduciary in this state may, with the consent of its cofiduciaries, if any, who are hereby authorized to give consent, cause any investments held by it in a fiduciary capacity to be registered and held in the name of a nominee of the bank or trust company without mention of the fiduciary relationship in any instrument or record constituting or evidencing title thereto, unless the instrument, judgment, decree or order heretofore or hereafter creating the fiduciary relationship expressly prohibits the registering and holding of investments in the name of a nominee.  The bank or trust company is liable for the acts of any nominee with respect to any investments so registered.

2.  The records of the bank or trust company shall at all times show the ownership of any such investments, which investments shall be in the control of the bank or trust company and be kept separate and apart from the assets of the bank or trust company.

Legislative History

(L. 1967 p. 445) (Source: RSMo Supp. 1965 § 363.285)