Missouri § 370.275 - Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure.
Full text of Missouri Revised Statutes of Missouri § 370.275 — Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure., with citation guidance and answers to common questions.
§ 370.275. Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure.
Shares, share certificates, deposits and deposit certificates may be held in the name of a member in trust for a beneficiary, in the name of a nonmember in trust for a beneficiary who is a member or in the name of a trustee of a trust of which a member is grantor, trustee or beneficiary. Beneficiaries may be a minor or minors. No beneficiary, trustee or grantor of a trust, unless a member in his or her own right, shall be permitted to vote, obtain loans, or hold office. Payment of part or all of such a trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the credit union to that party and to the beneficiary, and the credit union shall be under no obligation to see to the application of such payment. In the event of death of the party in whose name a trust account is held, and if the credit union has been given no other written notice of the existence or terms of any trust, account funds and any dividends or interest thereon shall be paid to the beneficiary.
--------
(L. 1984 H.B. 962, A.L. 1994 H.B. 1312, A.L. 2020 S.B. 599)
---- end of effective 28 Aug 2020 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 370.275
What does Revised Statutes of Missouri § 370.275 cover?
Section 370.275 ("Trust accounts, requirements — beneficiaries' rights — payment a discharge of liability, when — death of trust account owner, procedure.") 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 § 370.275?
A common citation format is "Revised Statutes of Missouri § 370.275" (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 § 370.275 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.