362.240. 1. Any bank or trust company incorporated underthe laws of this state may be converted into a national bankingassociation, or alone, or with one or more other such banks ortrust companies, may be consolidated or merged with one or morenational banking associations under a national bankingassociation charter upon compliance with the laws of the UnitedStates in such cases made and provided, and without approval byany authority of this state.
2. Whenever any such bank or trust company shall haveconverted, consolidated or merged into a national bankingassociation it shall notify the director of finance of the stateof Missouri of such fact and shall file with him a copy of itsauthorization as a national banking association or a copy of thecertificate of approval of consolidation or merger certified bythe Comptroller of the Currency, and thereupon its franchiseunder the laws of this state shall automatically terminate andthe resulting national banking association shall be consideredthe same business and corporate entity as, and a continuation ofthe corporate entity and identity of, such bank or trust company,although as to rights, powers and duties the resultinginstitution is a national banking association. The rights of anyof the stockholders of any such bank or trust company who dissentto the consolidation or merger shall be determined pursuant tothe laws of the United States.
3. In the case of any such conversion, consolidation ormerger:
(1) All the rights, franchises and interests of theconverting, consolidating or merging bank or trust company in andto every species of property, real, personal and mixed, andchoses in action thereto belonging shall be deemed to betransferred to and vested in the resulting national bankingassociation without any deed or other transfer; and
(2) The resulting national banking association by virtue ofthe conversion, consolidation, or merger, and without any orderof any court or otherwise, shall hold and enjoy the same and allrights of property and interests, including, but not by way oflimitation, appointments, designations and nominations and allother rights and interests as trustee, personal representative,conservator, receiver, registrar, assignee, and every otherfiduciary capacity in the same manner and to the same effect assuch rights and interests were held or enjoyed by the converting,consolidating or merging bank or trust company at the time of itsconversion, consolidation or merger into such resulting nationalbanking association.
(RSMo 1939 § 7988, A.L. 1951 p. 290 § 1, A.L. 1953 p. 250, A.L. 1983 S.B. 44 & 45)
362.240. 1. Any bank or trust company incorporated underthe laws of this state may be converted into a national bankingassociation, or alone, or with one or more other such banks ortrust companies, may be consolidated or merged with one or morenational banking associations under a national bankingassociation charter upon compliance with the laws of the UnitedStates in such cases made and provided, and without approval byany authority of this state.
2. Whenever any such bank or trust company shall haveconverted, consolidated or merged into a national bankingassociation it shall notify the director of finance of the stateof Missouri of such fact and shall file with him a copy of itsauthorization as a national banking association or a copy of thecertificate of approval of consolidation or merger certified bythe Comptroller of the Currency, and thereupon its franchiseunder the laws of this state shall automatically terminate andthe resulting national banking association shall be consideredthe same business and corporate entity as, and a continuation ofthe corporate entity and identity of, such bank or trust company,although as to rights, powers and duties the resultinginstitution is a national banking association. The rights of anyof the stockholders of any such bank or trust company who dissentto the consolidation or merger shall be determined pursuant tothe laws of the United States.
3. In the case of any such conversion, consolidation ormerger:
(1) All the rights, franchises and interests of theconverting, consolidating or merging bank or trust company in andto every species of property, real, personal and mixed, andchoses in action thereto belonging shall be deemed to betransferred to and vested in the resulting national bankingassociation without any deed or other transfer; and
(2) The resulting national banking association by virtue ofthe conversion, consolidation, or merger, and without any orderof any court or otherwise, shall hold and enjoy the same and allrights of property and interests, including, but not by way oflimitation, appointments, designations and nominations and allother rights and interests as trustee, personal representative,conservator, receiver, registrar, assignee, and every otherfiduciary capacity in the same manner and to the same effect assuch rights and interests were held or enjoyed by the converting,consolidating or merging bank or trust company at the time of itsconversion, consolidation or merger into such resulting nationalbanking association.
(RSMo 1939 § 7988, A.L. 1951 p. 290 § 1, A.L. 1953 p. 250, A.L. 1983 S.B. 44 & 45)
362.240. 1. Any bank or trust company incorporated underthe laws of this state may be converted into a national bankingassociation, or alone, or with one or more other such banks ortrust companies, may be consolidated or merged with one or morenational banking associations under a national bankingassociation charter upon compliance with the laws of the UnitedStates in such cases made and provided, and without approval byany authority of this state.
2. Whenever any such bank or trust company shall haveconverted, consolidated or merged into a national bankingassociation it shall notify the director of finance of the stateof Missouri of such fact and shall file with him a copy of itsauthorization as a national banking association or a copy of thecertificate of approval of consolidation or merger certified bythe Comptroller of the Currency, and thereupon its franchiseunder the laws of this state shall automatically terminate andthe resulting national banking association shall be consideredthe same business and corporate entity as, and a continuation ofthe corporate entity and identity of, such bank or trust company,although as to rights, powers and duties the resultinginstitution is a national banking association. The rights of anyof the stockholders of any such bank or trust company who dissentto the consolidation or merger shall be determined pursuant tothe laws of the United States.
3. In the case of any such conversion, consolidation ormerger:
(1) All the rights, franchises and interests of theconverting, consolidating or merging bank or trust company in andto every species of property, real, personal and mixed, andchoses in action thereto belonging shall be deemed to betransferred to and vested in the resulting national bankingassociation without any deed or other transfer; and
(2) The resulting national banking association by virtue ofthe conversion, consolidation, or merger, and without any orderof any court or otherwise, shall hold and enjoy the same and allrights of property and interests, including, but not by way oflimitation, appointments, designations and nominations and allother rights and interests as trustee, personal representative,conservator, receiver, registrar, assignee, and every otherfiduciary capacity in the same manner and to the same effect assuch rights and interests were held or enjoyed by the converting,consolidating or merging bank or trust company at the time of itsconversion, consolidation or merger into such resulting nationalbanking association.
(RSMo 1939 § 7988, A.L. 1951 p. 290 § 1, A.L. 1953 p. 250, A.L. 1983 S.B. 44 & 45)
