Missouri Administrative Code

PURPOSE: This regulation requires an asso- ciation to establish a prudent lending policy and a loan secured by real estate must be supported by at least one written appraisal. Editor’s Note: Copies of all referenced feder- al regulations are available to any interested party at t…

(Rescinded September 30, 2021) five percent (5%) in the bank’s outstanding shares. (D) The terms officer, director, employee and principal AUTHORITY: sections 361.105, RSMo 1986 and 362.105.3, RSMo shareholder shall include the spouse and minor child(ren) of Supp. 1992. This rule…

(Rescinded September 30, 2021) any loan made by the bank, nor receive or retain any bonus, salary, premium or other compensation contingent upon sales AUTHORITY: sections 361.105, RSMo 1986, 362.105.3, RSMo Supp. of credit life or credit accident and health insurance. This 1992 a…

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20 CSR 1140-2.050 Disposition of Credit Insurance Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 20 CSR 1140-2.051 Insurance Agencies Operated by State-C…

as 4 CSR 140-2.050. Original rule filed July 15, 1981, effective Jan. 1, PURPOSE: The practice in state-chartered banks where persons 1982. Amended: Filed Feb. 25, 1986, effective June 1, 1986. Moved or entities other than the bank receive compensation for the sale to 20 CSR 1140…

(Rescinded September 30, 2021) (5) Accounting for bank owned life insurance policies must AUTHORITY: sections 361.105, RSMo 1986 and 408.052, RSMo be consistent with the requirements of generally accepted 4 CODE OF STATE REGULATIONS (4/30/24) John R. Ashcroft Secretary of State 2…

(Rescinded September 30, 2021) of Finance; and (F) The REDC shall obtain proper documentation and AUTHORITY: sections 361.105, 362.170 and 362.105, RSMo Supp. perfected security interests on all projects. 1995. This rule originally filed as 4 CSR 140-2.060. Original rule filed De…

Development Corporations (5) A bank’s investment in an REDC will be subject to the same PURPOSE: Senate Bill 52 was approved by the governor and took review standards as any other investment. Examiners will be effect on September 28, 1985. The bill amended section 362.106, review…

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 20 CSR 1140-2.070 Accounting for Other Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 20 CSR 1140-2.080 Legal Loan Limit . . . . . . . . .…

effective Aug. 30, 2002. Moved to 20 CSR 1140-2.070, effective Aug. PURPOSE: This rule requires banks and trust companies to account 28, 2006. Amended: Filed Oct. 11, 2023, effective May 30, 2024. for other real estate in a manner that conforms to generally *Original authority: 3…

(Rescinded September 30, 2021) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 20 CSR 1140-2.090 Originating Trustees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 20 CSR 1140-2.095 Standards for Certain Fi…

Investments have adverse effects on the financial interests of minority shareholders and, in some cases, may result in a finding by the PURPOSE: House Bill 105/480 of the 87th General Assembly Internal Revenue Service or preferential dividends with the amended section 362.550.5.,…

(Rescinded September 30, 2021) more common types of services which may be rendered. Opposite each of these services is a classification indicating AUTHORITY: sections 361.105 and 362.295, RSMo 1986 and how the expense normally should be billed. These guidelines 361.130, RSMo Supp…

Marketing development Pro rata basis (Rescinded September 30, 2021) and advertising programs—general AUTHORITY: section 362.105, RSMo Supp. 1992. This rule originally filed as 4 CSR 140-2.126. Emergency rule filed Nov. 19, 1990, Marketing development Individual subsidiary billing…

(Rescinded May 30, 2024) Investment advice Individual subsidiary billing AUTHORITY: sections 361.105 and 362.105.4, RSMo Supp. 1996, Money desk operations Individual subsidiary billing and 362.107, RSMo 1994. This rule originally filed as 4 CSR 140- 2.127. Emergency rule filed De…

(4) Remedies for Failure to Meet Requirements. (A) If a bank or trust company does not continue to satisfy PURPOSE: Senate Bill 773, passed by the 84th General Assembly, the requirements of subsections (2)(A) through (2)(F) of this enacted a new section 362.410, RSMo which requir…

(F) The partnership may not invest, with respect to any lease PURPOSE: The National Banking Act, 12 USCA 24(10), by the customer, an amount in the aggregate which would exceed Competitive Equality Banking Act of 1987, P.L. 100-86, authorizes the amount which the bank could invest…

tured home, furnishings, equipment and established by state law. PURPOSE: This rule defines the terms used accessories installed by the manufacturer and in this chapter. freight; The records established and maintained by (L) Wrap-around real estate loan—a associations for all loa…

directors and employees); sell, purchase, participate or otherwise deal Loans (F) Wrap-around real estate loans—in in loans secured by residential real estate as accordance with 4 CSR 260-8.055 (relating follows: PURPOSE: This rule authorizes associations to wrap-around real esta…

Estate Loans association may invest in retail manufactured (2) Terms and Conditions. home chattel paper that is insured or guaran- PURPOSE: This rule authorizes associations (A) No association shall make any invest- teed or that has a commitment for insurance to make wrap-around …

Instruments income, which index is readily available to (E) The loan term may be adjusted only to and verifiable by the borrower and is beyond reflect a change in the interest rate, the pay- PURPOSE: This rule provides for certain the control of the association. An association me…

or more. Cooperatives and 369.299, RSMo 1971, amended 1994. (B) The loan is made under a policy set by PURPOSE: This rule authorizes associations the board of directors of the association. to make blanket loans on cooperative housing (C) The association obtains a written opin- de…

Leasehold tion insured by the Federal Deposit Insurance Corporation or is a broker or dealer regis- PURPOSE: This rule authorizes associations tered with the Securities and Exchange to make loans secured by first liens on lease- Commission and provided the market value JOHN R. AS…

made pursuant to this section. loans, obligations or investments in which associations may invest directly. AUTHORITY: sections 369.144, 369.229, 369.249 and 369.299, RSMo 1994.* This Editor’s Note: Copies of all referenced feder- rule originally filed as 4 CSR 260-8.085. al regu…

applicable limitations on those investments. Money regulations; Editor’s Note: Copies of all referenced feder- (E) Any open-end management investment PURPOSE: This rule authorizes sources of company which is registered with the al regulations are available at a cost estab- money …

Chapter 21—Association’s Sources of ments branch office or agency is located; Borrowed Money and Authorized Investments (D) Commercial paper and corporate debt PURPOSE: This rule lists the investments an securities, subject to the limitations and association is allowed to make al…

Transactions .................................................................................3 20 CSR 1140-21.040 Development Finance Corporation Investments and Loans ..........................4 JOHN R. ASHCROFT (7/31/21) CODE OF STATE REGULATIONS 1 Secretary of State Chapter 2…

Corporation Investments and Loans PURPOSE: This rule complies with section 371.120.3(2), RSMo, which authorizes the director to adopt a rule to fix and prescribe limits under which a savings and loan associ- ation may invest in, become a member of, and lend to or commit to lend t…

Earnings to issue savings accounts or certificates. *Original authority: 369.204, RSMo 1971, amended 1994 and 369.299, RSMo 1971, amended 1994. PURPOSE: This rule authorizes associations (1) An association may accept savings to determine the time for distribution and the accounts…

Small Accounts (B) Associations obtaining the initial writ- security for the deposits. ten authorization to pay specified third parties PURPOSE: An association may make a ser- at times and in amounts to be later specified (1) Savings and deposit accounts in insured vice charge on…

AUTHORITY: sections 369.154, 369.189 and 10.060. This rule previously filed as 4 CSR PURPOSE: This rule permits associations on 369.299, RSMo 1994.* This rule originally 140-22.060. Original rule filed March 24, certain conditions to make specified payments filed as 4 CSR 260-10.…

Accounts 20 CSR 1140-22.080 Credit and Debit Cards PURPOSE: An association may act as trustee of a trust under a plan which qualifies for PURPOSE: This rule will authorize state specific tax treatment under sections 401(d) chartered savings and loan associations to or 408(a) of t…

ner or trustee. fication to the director prior to the establish- PURPOSE: This rule authorizes investments ment of the service corporation; (3) Permitted Activities. A service corpora- by associations in service corporations, spec- (B) The service corporation’s activities, perfor…

for officers of the association which shall RSMo 1994.* This rule originally filed as 4 PURPOSE: This rule provides that all rules apply in any emergency, under which provi- CSR 260-12.020. This rule previously filed as of the Division of Finance apply to deposit sion persons hol…

of the board of directors to be notified of the requirements of section 369.074, RSMo PURPOSE: This rule defines emergencies, emergency in a manner as may be required by together with two (2) copies of the Articles of requires actions to be taken in anticipation of resolution of …

369.079(11), RSMo regarding the formation CSR 140-24.080. Original rule filed May 13, PURPOSE: This rule states what the per- of an interim association to facilitate the char- 1993, effective Oct. 10, 1993. Changed to 4 diem examination charge is for each examin- tering of an ass…

Federal Mutual Holding Company chartered mutual holding company. 1992, 1994; 369.089, RSMo 1971, amended 1982, 1994; 369.144(7), RSMo 1971, amended 1982, 1983, 1984, 1989, 1994; and 369.299(2), RSMo 1971, amended 1994. PURPOSE: This rule allows for the reorgani- (4) No savings as…

Transfer Systems (A) An association may establish or use theft and to assist in the identification and RSUs and participate with others in RSU apprehension of persons who commit such PURPOSE: This regulation establishes the operations on an unrestricted geographic acts. criteria …

Remote Service Units ments of this regulation, the director may effective Nov. 13, 1978. Amended: Filed Oct. issue and serve upon the foreign association a 13, 1981, effective Jan. 14, 1982. Rescinded PURPOSE: This regulation establishes the notice of intent to revoke the authori…

Business in Missouri by Foreign tion in accordance with such procedures as Associations s/he may require. PURPOSE: This regulation establishes the (4) No foreign association shall be authorized guidelines for a foreign association to trans- to transact business in this state unle…

and Mergers PURPOSE: This regulation requires associa- tions, foreign associations and savings and loan holding companies to notify the director of a proposed regional acquisition or merger. (1) Definitions. The words and terms shown as follows when used in this regulation shall …

groups of officers and employees of an asso- and no new application to continue to exer- PURPOSE: By virtue of section 403 of the ciation to whom are assigned the perfor- cise such powers is necessary. However, Depository Institutions Deregulation and mance of fiduciary services …

Associations to Stock Associations applicant’s conversion stock. The applicant’s voting members, which was called to consid- plan of conversion may also provide for er the plan of conversion, the applicant shall PURPOSE: This regulation allows for the employment contracts for the…

Keeping and General Provisions the titled personal property from each owner, registered office shall be maintained so that whether or not obligated on the title loan the assets, liabilities, income and expenses PURPOSE: Title loan companies (title agreement or renewal. may be rea…

(I) The amount of charge for life insurance, name or number of account and bear autho- PURPOSE: Retail credit financing institu- if sold in connection with the contract, spec- rized signature of the institution or person. tions are subject to examination by the ifying type, perio…

ample: Consider a twenty-four (24)-month consumer must be provided with a copy of PURPOSE: Retail credit financing institu- contract of $1,925.25 with finance charges of tions are subject to examination by the the policy or certificate of insurance within $474.75, monthly payment…

Insurance provisions or that section or application of the PURPOSE: Extension fees are believed by the regulations which can be given effect without director of finance to be a fair and equitable PURPOSE: This rule is designed to promote the invalid provision or application, and …

(Rescinded November 30, 2010) 5, 1996, expired June 2, 1997. Original rule expired Jan. 26, 2011. Rescinded: Filed April filed Nov. 25, 1996, effective May 30, 1997. 15, 2010, effective Nov. 30, 2010. AUTHORITY: sections 443.847, 443.869(7), Moved to 20 CSR 1140-30.100, effective…

(Rescinded November 30, 2010) rescission filed April 5, 2010, effective April Emergency rule filed Nov. 25, 1996, effective Dec. 5, 1996, expired June 2, 1997. Original 18, 2010, expired Jan. 26, 2011. Rescinded: AUTHORITY: sections 443.847, 443.869(7), rule filed Nov. 25, 1996, …