362.207. Securities held in name of nominee. - Missouri Statutes

Securities held in name of nominee.

362.207. 1. Any state or national bank or trust companyqualified to act as a fiduciary in this state may, with theconsent of its cofiduciaries, if any, who are hereby authorizedto give consent, cause any investments held by it in a fiduciarycapacity to be registered and held in the name of a nominee ofthe bank or trust company without mention of the fiduciaryrelationship in any instrument or record constituting orevidencing title thereto, unless the instrument, judgment, decreeor order heretofore or hereafter creating the fiduciaryrelationship expressly prohibits the registering and holding ofinvestments in the name of a nominee. The bank or trust companyis liable for the acts of any nominee with respect to anyinvestments so registered.

2. The records of the bank or trust company shall at alltimes show the ownership of any such investments, whichinvestments shall be in the control of the bank or trust companyand be kept separate and apart from the assets of the bank ortrust company.

(L. 1967 p. 445)

(Source: RSMo Supp. 1965 § 363.285)