362.780. New company succeeds to fiduciary relations of old.

MISSOURI STATUTES AND CODES

362.780. New company succeeds to fiduciary relations of old.

New company succeeds to fiduciary relations of old.

362.780. 1. If the receiver corporation or the consolidatedcorporation is to have fiduciary powers, the receivingcorporation under merger or the new corporation underconsolidation shall become, without further act or deed, thesuccessor of the merging or of the consolidating corporation inany and all fiduciary capacities in which the merging orconsolidating corporation may be acting at the time of the mergeror consolidation, and shall be liable to all beneficiaries asfully as if the receiving or consolidating corporations hadcontinued their separate corporate existence.

2. All and singular the rights and privileges and the right,title and interest in and to all property of whatsoever kind,whether real, personal or mixed, and things in action, and everyright, privilege, interest or asset of conceivable value orbenefit then existing to which either of the corporations somerging or consolidating shall be entitled at law or in equity inany fiduciary capacity shall fully and finally, and without anyright of reversion, be transferred to and vested in the receivingor consolidated corporation, without further act or deed; and thereceiving or consolidated corporation shall have and hold thesame as fully and in the same fiduciary capacity and for the samepurposes, and with the same powers, duties, responsibilities anddiscretion, as the same were possessed and held by the merging orconsolidating corporations from which they were, by operation ofthe provisions of sections 362.610 to 362.810, transferred;except that if the receiving corporation or the consolidatedcorporation is to be a bank having no fiduciary powers, allright, title and interest to any property held by one of theparties to the merger or consolidation in a fiduciary capacityshall be transferred to the successor trustee as provided insection 362.118.