Missouri § 362.570 - Application of trust guaranty fund.
Full text of Missouri Revised Statutes of Missouri § 362.570 — Application of trust guaranty fund., with citation guidance and answers to common questions.
§ 362.570. Application of trust guaranty fund.
1. The trust guaranty fund shall be absolutely pledged for the faithful performance by the bank or trust company of its duties and undertakings under the provisions of subsection 3 of section 362.105 and shall be applied to make good any default in the performance. The pledge and liability shall not in any way relieve the stock and general funds of the bank or trust company, but creditors under the subdivisions shall have an equal claim with other creditors upon the capital and other property of the bank or trust company in addition to the security hereby given, and in addition to the deposit made with the finance director under the provisions of section 362.590.
2. No portion of the trust guaranty fund shall be transferred to the general capital while the bank or trust company has undertakings of the kinds mentioned in subsection 3 of section 362.105, for whose performance bonds are required from individuals, outstanding and uncompleted, but income therefrom, if not required at any dividend time to make good such undertakings, may be added to and disposed of with the general income of the bank or trust company.
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(L. 1967 p. 445, A.L. 2021 S.B. 106)
(Source: RSMo 1959 § 363.220)
---- end of effective 28 Aug 2021 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.570
What does Revised Statutes of Missouri § 362.570 cover?
Section 362.570 ("Application of trust guaranty fund.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 362.570?
A common citation format is "Revised Statutes of Missouri § 362.570" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 362.570 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.