Missouri Laws 362.575 – Personal representatives and other persons not liable as stockholders
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Terms Used In Missouri Laws 362.575
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Intestate: Dying without leaving a will.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Stockholder: unless otherwise qualified, means a person who appears by the books of a stock corporation to be the owner and holder of one or more shares of the stock of the corporation. See Missouri Laws 362.010
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
No person holding stock in the corporation as personal representative, conservator, or trustee, and no person holding this stock as collateral security shall be personally subject to any liability as stockholder in the corporation; but the person pledging the stock shall be considered as holding the same, and shall be liable as stockholder accordingly. And the estate and funds in the hands of the personal representatives, conservators, or trustees shall be liable in like manner and to the same extent as the testator or intestate, or the protectee or person interested in the trust fund would have been if he had been living and competent to act and hold in his own name.