369.184. Fiduciary accounts, how handled. - Missouri Statutes

Fiduciary accounts, how handled.

369.184. 1. An association may accept accounts in the nameof any personal representative, custodian, conservator or otherfiduciary for a named beneficiary or beneficiaries, and any suchfiduciary may open and make additions to, and may withdraw fromany such account. Any payment to the fiduciary shall be arelease and discharge of the association for the payment so madewithout regard to any notice the association may have receivedconcerning the status or capacity of the fiduciary.

2. If any fiduciary named in this section opens an accountwith an association in his own name not followed by thedesignation of his fiduciary capacity, the association shalltreat such an account as the individually owned account of thatperson regardless of any notice to the contrary.

(L. 1971 S.B. 3 § 36, A.L. 1982 S.B. 464, A.L. 1983 S.B. 44 & 45)