Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

369.212. Death of all lessees of safe deposit box, duties of association. — 1. In the event the sole lessee or all lessees as joint renters named in the lease agreement covering a safe deposit box rental shall die, the association by contract may accept the following additional d…

369.214. Redemption of accounts, how and when, effect of. — 1. An association may redeem, by lot or otherwise as the board of directors may determine, subject to approval of the director of the division of finance, all or any part of its accounts on an earnings payment date by gi…

369.219. Approved investments. — An association may invest in the following securities: (1) Obligations of, or obligations fully guaranteed as to principal and interest by, the United States or the state of Missouri; (2) Stock or obligations of any Office of Thrift Supervision or…

369.224. Association to maintain liquid assets — minimum percentage, how set. — Every association is required to maintain liquid assets in an amount not less than a minimum percentage established by the director of the division of finance. ­­-------- (L. 1971 S.B. 3 § 44, A.L. 19…

369.229. Approved transactions and loans. — 1. Every association may: (1) Make loans secured by its accounts to the extent of the withdrawal value thereof and unsecured loans to any account owner but not exceeding such amount individually or in the aggregate as may be established…

369.234. Preference given association holding first lien. — An association may: (1) Make without limitation any advances necessary to protect the security of any loan or the priority of lien thereon which shall stand secured by such first lien irrespective of intervening liens; (…

369.239. Association may accept pledge of borrower's account or other additional collateral. — As additional collateral security for a loan, an association may accept the assignment or pledge of the account or accounts of the borrower or of any other account owner, or additional …

369.244. Association may purchase, convey or manage property in which it has a security interest — time limitation. — 1. An association may purchase at any sale, public or private, any real or personal property upon which it has a mortgage, judgment, deed of trust, pledge, lien o…

369.249. Director may regulate lending practices. — The director of the division of finance may from time to time establish such rules and regulations in respect to loans as may be reasonably necessary to assure that such loans are in keeping with sound lending practices and prom…

369.254. Association may invest in real property and mobile homes, when. — An association may: (1) Invest in such real property as the directors may deem necessary or convenient for the conduct of the business of the association; and (2) Invest in the acquisition of unimproved re…

369.259. Unapproved transfer of encumbered property, effect of. — In the event of a conveyance or transfer of any property upon which an association has a lien without the consent of the association, the association may proceed as provided in the note or security instrument. ­­--…

[Repealed or reserved.]

369.279. Examiners, appointment, duties — attorney authorized. — The director of the division of finance shall appoint such examiners and other employees as the director shall deem necessary to properly discharge the duties of the office. They shall devote all of their time to su…

369.294. Certain interest in an association by director and examiners prohibited — information to be confidential, exceptions. — 1. The director of the division of finance and examiners shall not be interested in an association directly or indirectly either as creditor (except th…

369.299. Powers and duties of director. — The director of the division of finance shall: (1) Exercise all rights, powers and duties set forth in sections 369.010 to 369.369 or as may be otherwise provided by law; (2) Establish, amend, supplement and revoke, subject to the approva…

369.301. Rulemaking, procedure. — Rules promulgated under the authority of this chapter shall be promulgated pursuant to the provisions of chapter 536. No rule or portion of a rule promulgated under the authority of this chapter shall become effective unless it has been promulgat…

369.314. Powers and duties of board. — The board shall: (1) Approve or disapprove each regulation proposed by the director of the division of finance pertaining to savings and loan associations; and (2) Hear and determine any appeal permitted by law, including but not limited to …

369.324. Examination costs, how paid — pro rata assessment, director to determine — division of savings and loan supervision fund, created, uses, transfers to general revenue fund, when. — 1. Each association shall pay for each annual or special examination such amount as the dir…

369.329. Branch offices and agencies, approval required, exceptions — application for approval, contents — approval, when — hearing, procedures. — No association may establish or maintain a branch office or agency without the prior written approval of the director of the division…

369.334. Reports may be required — examiners to have access to records. — 1. Each association shall make such reports, verified if required, in such form as the director of the division of finance may from time to time require. 2. Each association shall be examined periodically, …

369.338. Cease and desist orders, period of supervision, when, procedure, duties of association — costs, how fixed and paid. — If, in connection with any cease and desist order issued pursuant to this chapter, the director of the division of finance requests the consent of the bo…

369.339. Director to take over association, when — procedure. — 1. If the director of the division of finance finds, as a result of any examination or from any report made to the director or to any association, that the association is violating the provisions of its articles of i…

369.344. Powers of director during take-over of association. — 1. When the director of the division of finance takes possession of the property, business and assets of an association, the director may manage and conduct its business and affairs and collect all money due to such a…

369.349. Liquidation by director, procedure. — 1. When the director of the division of finance determines to liquidate an association, the director shall file a petition in the circuit court of the county in which the principal office of the association is located setting forth t…

369.354. Federal Deposit Insurance Corporation may act as receiver or liquidator without bond. — 1. The Federal Deposit Insurance Corporation or any successor thereto may act without bond as sole or joint receiver or liquidator of any insured association which has been taken over…

369.359. Foreign association doing business in state must comply with regulation by division of finance. — No foreign association or foreign holding company shall transact the business of a savings association within this state, or maintain an office in this state for the purpose…

369.361. Foreign associations adjoining states and principal business outside state, requirements to do business — principal business, how determined — control, defined. — 1. Notwithstanding any law to the contrary, foreign associations which conduct their principal operations in…

369.364. Federal associations may have same powers as state associations. — Unless federal laws or regulations provide otherwise, federal savings associations with principal offices located within this state and the members, stockholders, and deposit account owners thereof shall …

369.367. Other provisions of law, applicable, when. — When not in direct conflict with or superseded by specific provisions of this chapter, or other provisions applicable to savings and loan associations, the provisions of chapter 351 shall extend to associations organized or op…

369.369. Penalty for false statement or certificate. — If any statement or certificate which is required by sections 369.010 to 369.369 is false, any person who with knowledge of such falsity willfully swears to such statement or certificate is guilty of perjury, and upon convict…

369.371. Costs of reproducing records — costs of appearing in court or deposition — limitation of liability. — 1. Any person requesting association records by subpoena in a civil court case shall reimburse the association fifteen dollars plus a fee of thirty-five cents per page f…

369.670. Definitions. — For purposes of this chapter, the following terms mean: (1) "Association", shall also include a savings bank chartered or converted pursuant to the provisions of sections 369.670 to 369.714; (2) "Director", shall refer to the director of the division of fi…

369.675. Savings bank, establishment — articles of agreement, requirements. — 1. When authorized by the director, any five or more persons who associate themselves by written articles of agreement, as provided by law, for the purpose of establishing a savings bank, may be incorpo…

369.678. Articles of agreement, requirements, filing, director's duties — recording of articles, where. — The articles of agreement shall be signed and acknowledged by the parties to the articles of agreement, and shall be filed with the director. If the director finds the articl…

369.684. Examination required, expenses. — 1. When any savings bank has filed with the director proper copies of its articles of agreement, paid the incorporation and other fees in full, and provided the cash, as required by law, the director, before the savings bank completes it…

369.689. Certificate of organization, recorded. — 1. If the director finds that all the provisions of the law have been complied with, the director shall grant a certificate setting forth that such savings bank has been duly organized and the amount of its capital subscribed and …

369.695. Powers of savings bank — taxed, how. — 1. The powers of a savings bank shall be limited to those of a bank or trust company pursuant to chapter 362. Where such powers may be exercised only upon obtaining the approval of the director, the procedures and standards in chapt…

369.699. Limits on investment. — 1. A savings bank may not invest more than forty percent of its total assets in commercial loans. A commercial loan is a loan for business, commercial, corporate or agricultural purposes. 2. A savings bank shall maintain at least fifteen percent o…

369.703. Merger — conversion — trust powers — director's powers. — 1. A savings bank may merge with or convert its charter to that of a bank pursuant to the provisions of section 369.087, to the same extent as if it were an association. 2. A savings bank may exercise trust powers…

369.705. Definitions — savings banks merger with nonbank subsidiaries or nonbank affiliates — procedure. — 1. As used in this section, the following terms mean: (1) "Nonbank affiliate", any nonbank business entity of which a bank holding company or bank savings and loan holding c…

369.708. Law to apply. — A savings bank shall follow the provisions of chapter 361 and chapter 362 as if it were a bank organized pursuant to those chapters for the following: (1) To apply for and to operate branch offices; (2) To purchase real estate or organize subsidiary corpo…

369.714. Conversion, consolidation, merger. — 1. Any association or federal association may be converted into a savings bank pursuant to the laws of the state of Missouri. Such savings bank shall be located in the city or town in which the converting association or federal associ…