Missouri § 370.275 Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure.

Missouri Statutes

§ 370.275 — Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure.

Missouri § 370.275

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 370Credit Unions

This text of Missouri § 370.275 (Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 370.275 (2026).

Text

Shares, share certificates, deposits and deposit certificates may be held in the name of a member in trust for a beneficiary, in the name of a nonmember in trust for a beneficiary who is a member or in the name of a trustee of a trust of which a member is grantor, trustee or beneficiary.  Beneficiaries may be a minor or minors.  No beneficiary, trustee or grantor of a trust, unless a member in his or her own right, shall be permitted to vote, obtain loans, or hold office.  Payment of part or all of such a trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the credit union to that party and to the beneficiary, and the credit union shall be under no obligation to see to the application of such payment.  In the event o

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Shares, share certificates, deposits and deposit certificates may be held in the name of a member in trust for a beneficiary, in the name of a nonmember in trust for a beneficiary who is a member or in the name of a trustee of a trust of which a member is grantor, trustee or beneficiary. Beneficiaries may be a minor or minors. No beneficiary, trustee or grantor of a trust, unless a member in his or her own right, shall be permitted to vote, obtain loans, or hold office. Payment of part or all of such a trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the credit union to that party and to the beneficiary, and the credit union shall be under no obligation to see to the application of such payment. In the event of death of the party in whose name a trust account is held, and if the credit union has been given no other written notice of the existence or terms of any trust, account funds and any dividends or interest thereon shall be paid to the beneficiary.