Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

[Repealed or reserved.]

362.110. Federal Deposit Insurance Corporation subrogated to depositors' rights in closed state banks or trust companies. — In order that banks and trust companies doing a banking business, organized under the laws of the state of Missouri and the depositors thereof may have the …

362.1100. Order of removal — notice of charges, when, procedure. — 1. The director or the director's designee may issue and serve upon a family trust company and a family trust company affiliated party a notice of charges if the director or the director's designee has reason to b…

362.1105. Books and records of company, confidentiality — inspection, when — violation, penalty. — 1. The books and records of a family trust company are confidential and shall be made available for inspection and examination only: (1) To the director or the director's authorized…

362.111. Fees and service charges permitted, when, conditions. — 1. A bank or trust company may impose fees or service charges on deposit accounts; however, such fees or service charges are subject to such conditions or requirements that may be fixed by regulations pursuant to se…

362.1110. Principal place of business — retention of records — in camera inspection, when. — 1. A family trust company shall keep at its principal place of business or principal place of operations: (1) Full and complete records of the names and residences of all its shareholders…

362.1115. Information exempt from sunshine law — disclosure, when — violation, penalty. — 1. The following information held by the director is confidential and exempt from chapter 610: (1) Any personal identifying information appearing in records relating to a registration or an …

362.1116. Rulemaking authority. — The director may issue forms and orders and, after notice and comment, may adopt and amend rules necessary or appropriate to carry out the provisions of sections 362.1010 to 362.1117 and may repeal rules and forms. ­­-------- (L. 2017 H.B. 292, A…

362.1117. Hearing for aggrieved interested persons — judicial review for cease and desist orders and rules. — 1. Except as otherwise provided in sections 362.1010 to 362.1117, any interested person aggrieved by any order of the director or director's designee under any provision …

362.1118. Severability clause. — If any provision of sections 362.1010 to 362.1117 or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of sections 362.1010 to 362.1117 that can be given effect without …

362.112. Bank or trust company may act as custodian, when. — In addition to any other banking authority, a bank or trust company may act as a custodian for any entity, public or private, and place funds in any other financial institutions, provided such funds are placed in deposi…

362.115. Bank may exercise powers of trust companies — application — examination — certificate — trust department. — 1. Any bank organized under the laws of this state having a paid-up capital of at least fifty thousand dollars in any unincorporated or incorporated village or cit…

362.116. Trust accounts, originated by one bank or trust company, administration by another — requirements. — 1. Any bank or trust company may, with the approval of the director of the division of finance, originate trust accounts which will be administered, pursuant to contract,…

362.117. State bank may become trust company — procedure. — 1. Any bank may become a trust company with all the powers and subject to all the obligations and duties of trust companies organized under the provisions of this chapter. 2. A bank desiring to become a trust company sha…

362.118. Trust company may become state bank — procedure. — 1. Any trust company may become a state bank with all the powers and subject to all the obligations and duties of state banks organized under the provisions of this chapter. 2. A trust company desiring to become a state …

362.119. Investment in trust companies by bank, limitations — definitions. — Any bank organized pursuant to the laws of this state may invest not to exceed five percent of its capital, surplus and undivided profits in shares of stock in any new or existing trust company or compan…

362.120. Capital notes may be issued and sold by banks and trust companies. — 1. Any bank or trust company organized under the laws of this state may, through action of its board of directors and without requiring any action by stockholders, with the written consent of the financ…

362.125. Capital notes — denominations — rate of interest — maturity — impairment of capital — certain obligations to be prior claim. — 1. The capital notes shall be in such denominations and the holders thereof shall be entitled to such annual return thereon as the board of dire…

362.130. Extension of time for retirement of capital notes. — In any case where such capital notes to be issued as provided under the provisions of sections 362.120 to 362.135 are made retirable in a period less than twenty years after their authorization, the bank or trust compa…

362.135. Liquidation of assets — funds held in trust. — 1. Upon the assets of any bank or trust company issuing capital notes being set apart for the use and benefit of the holders of such capital notes, as provided in section 362.125, such bank or trust company shall proceed to …

362.140. Branch offices in foreign countries — how established — amount to be invested. — Any bank or trust company possessing a capital and surplus of one million dollars or more may file application with the director, upon such conditions and under such regulations as may be pr…

362.145. Content of application — director may approve or reject — examination of branches. — 1. The application shall specify the name, capital and surplus of the bank or trust company filing it, the amount of capital and surplus set aside for the purpose and the powers applied …

362.150. Director may investigate branches — require banks to dispose of holdings. — If at any time the director shall ascertain that the regulations prescribed by him are not being complied with, the director may institute an investigation of the matter and * require such papers…

362.155. Accounts of branches to be kept separately. — Each and every bank or trust company authorized hereunder shall conduct the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office and shall at the end…

362.160. May purchase stock in corporations to develop and maintain market for foreign and domestic exchange. — Every such corporation shall be authorized and empowered to subscribe for, purchase, hold, pledge and sell the stock of a corporation organized and existing under the l…

362.165. Restrictions on taking and holding real estate. — 1. All real estate, including any subsurface rights or interests therein, purchased by any bank or trust company or taken by it in its own right in settlement of debts due it shall be conveyed to it directly by name and t…

362.169. Population defined for legal loan limit. — For the purpose of determining the legal loan limit in section 362.170, the population of the community where the bank or trust company is located shall not include inmates of a correctional institution located in that community…

362.170. Unimpaired capital, defined — restrictions on loans, and total liability to any one person. — 1. As used in this section, the term "unimpaired capital" includes common and preferred stock, capital notes, the surplus fund, undivided profits and any reserves, not subject t…

362.171. Bank officer making excessive loan — penalty. — Any officer, director, agent, clerk or employee of any bank or trust company who willfully and knowingly makes or concurs in making any loan, either directly or indirectly, to any individual, partnership or corporation or b…

362.172. Investment in stock of banks or bank holding companies — limitations. — Any bank organized under the laws of this state may invest not to exceed five percent of its capital, surplus and undivided profits in shares of stock in any new bank or banks, existing bank or banks…

362.173. Investments in small business investment companies. — Every bank and every trust company organized under the laws of this state shall have power to and may, to the extent that national banks are permitted so to do by the laws of the United States, purchase shares of stoc…

362.175. Obligations issued pursuant to the Farm Credit Act or United States Housing Act authorized as legal investments and as security for public deposits. — Trustees, conservators, curators, banks, trust companies, insurance companies, assurance, casualty, fidelity, and guaran…

362.180. Who may make Federal Housing Act loans. — Banking institutions, trust companies, insurance companies, and loan and investment companies may (1) Make loans and advances of credit and purchases of obligations representing loans and advances of credit which are eligible for…

362.185. Financial institutions may invest securities under Federal Housing Act. — It is lawful for banking institutions, trust companies, insurance companies; and loan and investment companies to invest their funds and the moneys in their custody or possession in bonds or notes …

362.190. May be used as security. — Bonds, notes, or debentures issued by the Federal Housing Administrator or insured by the United States government under title II of the National Housing Act may be eligible as security for all public deposits in depositaries, or by public offi…

362.191. State employee compensation deductions authorized for investment by office of administration. — Notwithstanding any other provision of law, the commissioner of administration may, in the same manner as provided in section 33.103, deduct from any state employee's compensa…

362.195. Applicability of sections 362.180 to 362.195. — No law of this state prescribing the nature, amount or form of security, or requiring security upon which loans or advances of credit may be made, or prescribing or limiting interest rates upon loans or advances of credit, …

362.197. Capital contributions and investments in obligations of Federal National Mortgage Association. — Every bank and every trust company organized under the laws of this state shall have the power to, and may make payments to Federal National Mortgage Association of such nonr…

362.200. Money not to be employed in trade or commerce. — No corporation organized under any law of this state, whether general or special, as a bank or trust company, or to carry on a banking business, shall, except as otherwise permitted by law, employ its moneys, directly or i…

362.205. Account books, requirements — property, how carried. — 1. No bank or trust company shall by any system of accounting or any device of bookkeeping, directly or indirectly, enter any of its assets upon its books in the name of any other individual, partnership or corporati…

362.207. Securities held in name of nominee. — 1. Any state or national bank or trust company qualified to act as a fiduciary in this state may, with the consent of its cofiduciaries, if any, who are hereby authorized to give consent, cause any investments held by it in a fiducia…

362.220. Agreements to pay time deposit before maturity prohibited — penalty. — Any director, officer or employee of a bank or trust company who makes any agreement, express or implied, before or at the time of issuing a certificate of deposit by which its holder may demand or re…

362.222. Checks to be paid at par — exceptions — penalty. — 1. No bank or trust company organized under the laws of this state shall settle any check drawn on it otherwise than at par. The provision of this section shall not apply with respect to settlement of a check sent to a b…

362.225. Reserve depositaries. — Missouri banks and depository trust companies shall maintain reserves against aggregate deposits as provided by the Federal Reserve Act and any amendments thereto or of regulations duly adopted and promulgated under the Federal Reserve Act for ban…

362.230. No new loans until depleted reserves are restored. — Whenever the reserve of a bank or trust company shall fall below the amount herein required of it and shall remain so for a period of one week, then the bank or trust company shall not make any new loans, discounts or …

362.231. Reserve requirements, federal regulation to take precedence, when. — Whenever federal reserve regulations establish the level of reserves to be maintained by state banks, which are not member banks of the federal reserve, the laws and regulations relating to reserves in …

362.235. National bank may become state bank or trust company — procedure, effect. — 1. Any national banking association incorporated under the laws of the United States having its place of business in this state may be converted into a bank or trust company under the laws of the…

362.240. Change from state to national bank. — 1. Any bank or trust company incorporated under the laws of this state may be converted into a national banking association, or alone, or with one or more other such banks or trust companies, may be consolidated or merged with one or…

362.245. Board of directors, qualifications — cumulative voting in electing director permitted when. — 1. The affairs and business of the corporation shall be managed by a board of directors, consisting of not less than five nor more than thirty-five stockholders who shall be ele…

362.247. Board, quorum — directors not physically present, counted when — rulemaking authority. — 1. A majority of the full board of directors shall constitute a quorum for the transaction of business unless another number is required by the articles of agreement, the bylaws or b…