Missouri legislation · 2026 Regular Session
Missouri HB2838: Modifies provisions relating to the merger and consolidation of credit unions
Status: In committee, May 15, 2026
What the bill says
To amend bylaws regarding credit union membership or to organize credit unions that include single or multiple groups. 370.357. When the merger or consolidation has been effected: (1) The several credit unions parties to the plan of merger or consolidation shall be a single credit union which, in the case of a merger, shall be that credit union designated in the plan of merger as the surviving credit union, and, in the case of consolidation, shall be the new credit union provided for in the plan of consolidation; (2) The separate existence of all credit union parties to the plan of merger or c.
From the introduced text:
to amend bylaws regarding credit union membership or to organize credit unions that include single or multiple groups. 370.357. When the merger or consolidation has been effected: (1) The several credit unions parties to the plan of merger or consolidation shall be a single credit union which, in the case of a merger, shall be that credit union designated in the plan of merger as the surviving credit union, and, in the case of consolidation, shall be the new credit union provided for in the plan of consolidation; (2) The separate existence of all credit union parties to the plan of merger or consolidation, except the surviving or new credit union, shall cease; (3) The surviving or new credit union shall have all the rights, privileges, immunities, and powers, and shall be subject to all the duties and liabilities of a new credit union; (4) The surviving or new credit union shall thereupon and thereafter possess all the rights, privileges, immunities, and franchises of each of the merging or consolidating credit unions; and all property, real, personal, and mixed, and all debts due on whatever account, loans, and all other choses in action, and all and every other interest of or belonging to or due to each of the credit unions so merged or consolidated, shall be taken and deemed …
Sponsors
- Richard West (R, 102) · primary sponsor