Missouri Laws 362.560 – Trust guaranty fund
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Missouri Laws 362.560
- Fiduciary: A trustee, executor, or administrator.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
The directors of any state or national bank or trust company qualified to act as fiduciary in this state may from time to time set apart, as a trust guaranty fund, such portion of the profits as they may consider expedient. The fund shall be invested in such securities only as are legal for the investment of trust funds. The accounts of this fund shall be kept in the trust department.