362.710. Agreement for consolidation becomes effective, when. - Missouri Statutes

Agreement for consolidation becomes effective, when.

362.710. 1. If the agreement is approved and ratified by thestockholders of the respective banks and trust companies, then in case theagreement provides for a consolidation of the banks and trust companieswhich are parties thereto, a copy of the minutes of the proceedings of therespective stockholders' meetings at which the agreement is approved, witha copy of the agreement and the finance director's approval thereof, allcertified and verified by the respective secretaries of the meetings, shallbe filed in the public records of the division of finance and a like copyof the minutes, agreement and approval shall be filed with the cashier orsecretary of each of the banks and trust companies party to the agreement.

2. Upon the filing in the public records of the division of financeof a copy of the agreement with the approval of the director, and theproceedings above prescribed, the agreement for the consolidation of thebanks and trust companies which are parties thereto shall take effectaccording to its terms and the consolidation shall thereupon be complete;provided, the legal fees for the incorporation of the consolidated banks ortrust companies are paid to the director, the same as if a new corporationwere organized for the same amount of capital authorized for theconsolidated company.

(L. 1967 p. 445, A.L. 2000 S.B. 896)

(Source: RSMo 1959 § 363.870)