MO HB478

Allows shares in joint tenancy to be issued to minors in addition to adults, with joint tenants able to be designated conjunctively or disjunctively.

Credit unions may require a minor's parent, guardian, or responsible person to be a joint owner of the minor's account.

Joint tenancy accounts are conclusively evidenced by credit union records and pass to surviving joint tenants upon death, with multiple surviving joint tenants retaining joint tenancy rights.

Adjudication of disability or incapacity of a joint tenant does not sever the joint tenancy, and withdrawals or pledges on behalf of disabled owners must be made by their conservator.

Accounts opened under the Missouri Transfer to Minors Law (sections 404.005 to 404.094) remain governed by that separate law.