369.703. Merger--conversion--trust powers--director's powers. - Missouri Statutes

Merger--conversion--trust powers--director's powers.

369.703. 1. A savings bank may merge with or convert its charter tothat of a bank pursuant to the provisions of section 369.087, to the sameextent as if it were an association.

2. A savings bank may exercise trust powers upon filing anapplication for trust powers and receiving the approval of the directorpursuant to chapter 362, RSMo.

3. The director's powers in sections 361.260 to 361.269, RSMo, andthe procedures described in such sections shall apply to any savings bankand any director, officer, agent, employee or other person participating inthe conduct of its affairs to the same extent such powers * and proceduresapply to a bank and to any director, officer, agent, employee or otherperson participating in the conduct of such bank's affairs.

(L. 1997 H.B. 257 § 369.435)

*Words "and powers" appear in original rolls.