362.590. Bond not required of banks and trust companies, when acting as fiduciaries. - Missouri Statutes

Bond not required of banks and trust companies, when acting asfiduciaries.

362.590. Any state or national bank or trust companyqualified to act as fiduciary in this state shall be permitted toqualify as guardian, executor, administrator, assignee, receiver,trustee, or in any fiduciary capacity, by appointment of anycourt, or under will, or depositary of money in court, withoutgiving bond as such, and become sole guarantor or surety in orupon any bond required by law to be given in any proceeding inlaw or equity in any of the courts of this state or other statesor of the United States, any other statute to the contrarynotwithstanding.

(L. 1967 p. 445, A.L. 1971 S.B. 171, A.L. 1977 S.B. 420)

(Source: RSMo 1959 § 363.700)

CROSS REFERENCE:

Bonds of political subdivisions lawful security, when, RSMo 108.290

(1951) Trust company may be appointed and qualify as executor in accordance with will without complying with this section. State ex rel. v. Stahlhuth, 362 Mo. 67, 239 S.W.2d 515.