362.680. Agreement to be submitted to stockholders, when--exceptions, procedures.

MISSOURI STATUTES AND CODES

362.680. Agreement to be submitted to stockholders, when--exceptions, procedures.

Agreement to be submitted to stockholders, when--exceptions,procedures.

362.680. 1. In case of approval by the finance director, theagreement, except as provided in subsection 3 of this section, shall withinsixty days after the date of the approval be submitted to the stockholdersof each bank and trust company which is a party to the merger orconsolidation.

2. The meeting of the stockholders of each bank and trust company forthe purpose shall be called upon notice given as provided in section362.044.

3. In the event that the director of the division of financedetermines that one of the banks which is a party to the merger is inimminent danger of failing and that the merger is necessary to prevent suchfailure, or that one of the banks which is a party to the merger was formedto take over assets and liabilities of a failed bank, or that the partiesto the merger are wholly owned by a bank holding company, he or she shallissue an order to such effect and the merger shall take effect immediatelyupon the issuance of his or her order approving the merger. In such acase, the agreement of merger, along with a copy of the order of thedirector of the division of finance approving the merger, shall be filed inthe public records of the division of finance. No stockholders' meetingneed be held but any stockholder of either bank shall be entitled toexercise the right of a dissenting stockholder pursuant to section 362.730.