388.200. Persons holding stock in fiduciary capacity not liable as stockholders. - Missouri Statutes

Persons holding stock in fiduciary capacity not liable asstockholders.

388.200. No person holding stock in any such company, aspersonal representative, conservator, or trustee, and no personholding such stock as collateral security shall be personallysubject to any liability as a stockholder of such company; butthe person pledging such stock shall be considered as holding thesame, and shall be liable as a stockholder accordingly; and theestates and funds in the hands of such personal representative,conservator, or trustee shall be liable in like manner, and tothe same extent, as the testator or intestate of the protectee orperson interested in such fund would have been, if he had beenliving and competent to act, and held the same stock in his ownname.

(RSMo 1939 § 5140, A.L. 1983 S.B. 44 & 45)

Prior revisions: 1929 § 4667; 1919 § 9857; 1909 § 3056