2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 370 Credit Unions
Section 370.287. Jointly held shares, survival.
Jointly held shares, survival.
370.287. Shares may be issued in joint tenancy with the right of survivorship with any person designated by the credit union member, but no person so designated as joint tenant shall be permitted to vote, obtain loans or hold office unless he is within the field of membership and is a qualified member. Any shares so issued and additions thereto of whatever nature shall be payable by the credit union on the death of the deceased member to the surviving joint tenant, and the payment and the receipt or acquittance of the same to said surviving joint tenant shall be a valid and sufficient release and discharge to the credit union for all amounts so paid.
(L. 1959 S.B. 127 370.285)
Annotation Copyright Missouri Joint Committee on Legislative Research
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