369.162. Irrevocable life insurance trusts--savings and loan associations may transfer fiduciary duty, when. - Missouri Statutes

Irrevocable life insurance trusts--savings and loan associations maytransfer fiduciary duty, when.

369.162. In addition to any other banking authority, a savings andloan association or a savings bank with authorized trust authority andcreated under the laws of this state may transfer by assignment, forconsideration or no consideration, some or all of its fiduciary obligationsthat consist only of irrevocable life insurance trusts in the same way aspermitted a Missouri bank or trust company under section 362.333, RSMo.

(L. 2009 H.B. 239 merged with S.B. 277)