Title XXIV, BUSINESS AND FINANCIAL INSTITUTIONS
21 chapters · 2,188 sections in this title.
§ 369.010 RSMo Short title
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369.010. Short title. — Sections 369.010 to 369.369 may be cited as the "Savings and Loan Law". -------- (L. 1945 p. 1578 § 2, A. 1949 H.B. 2090, A.L. 1971 S.B. 3 § A)
§ 369.014 RSMo Definitions
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369.014. Definitions. — As used in this chapter, unless the context clearly requires a different meaning, the following words and terms shall have the meanings indicated: (1) "Account", the monetary interest of the owner thereof in the deposit capital of an association and consis…
§ 369.019 RSMo Incorporation, requirements, procedure, contents of petition, fees
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369.019. Incorporation, requirements, procedure, contents of petition, fees. — 1. Any five or more individuals, hereinafter referred to as incorporators, who are residents of this state may form an association to promote thrift and home financing. Any such association may be a mu…
§ 369.024 RSMo Director to approve or deny petition — tentative approval — protest, how filed — final approval, effect of
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369.024. Director to approve or deny petition — tentative approval — protest, how filed — final approval, effect of. — 1. Upon receipt of a petition for certificate of incorporation, the director of the division of finance shall, based upon the petition and all supporting informa…
§ 369.029 RSMo Perpetual existence, when commenced
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369.029. Perpetual existence, when commenced. — The corporate existence of an association shall begin on the date the secretary of state issues the certificate of incorporation of the association, and such existence shall be perpetual unless terminated in accordance with the prov…
§ 369.034 RSMo Incorporation fee, how computed, bond required
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369.034. Incorporation fee, how computed, bond required. — 1. The incorporators shall appoint one of their number as chairman. The incorporators of a mutual association, before a certificate of incorporation is issued, shall pay in cash to the chairman, as the initial accounts of…
§ 369.039 RSMo Expense fund, mutual associations, purpose, amount — contributions, how repaid — associations exempted, when
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369.039. Expense fund, mutual associations, purpose, amount — contributions, how repaid — associations exempted, when. — 1. The incorporators of a mutual association shall also create an expense fund in an amount not less than one-half of the amount of initial accounts required b…
§ 369.044 RSMo Bylaws, when and how adopted — approval by members
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369.044. Bylaws, when and how adopted — approval by members. — Within thirty days after the corporate existence of an association begins, or within such additional time as the director of the division of finance may allow, the directors of the association shall hold an organizati…
§ 369.049 RSMo Name may include what, exceptions — deceptive names prohibited — amending charter for name changes — violations, injunction
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369.049. Name may include what, exceptions — deceptive names prohibited — amending charter for name changes — violations, injunction. — 1. The name of every association may include either the words "Savings Association", or "Savings and Loan Association", except for associations …
§ 369.054 RSMo Office, location of — approval to establish or move, when — closing a branch office, notice
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369.054. Office, location of — approval to establish or move, when — closing a branch office, notice. — Without the prior approval of the director of the division of finance, as provided in sections 369.010 to 369.369, no association shall establish any office other than its home…
§ 369.059 RSMo Amendment of articles of incorporation, procedure
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369.059. Amendment of articles of incorporation, procedure. — Subject to the approval of the director of the division of finance, every association may amend its articles of incorporation upon the adoption of a resolution covering each amendment by the affirmative votes of a majo…
§ 369.064 RSMo Failure to commence business within six months, effect of
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369.064. Failure to commence business within six months, effect of. — Any association which shall not commence business within six months after the date upon which its corporate existence begins shall forfeit its corporate existence, unless the director of the division of finance…
§ 369.069 RSMo Conversion to federal association, procedure, effect of
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369.069. Conversion to federal association, procedure, effect of. — 1. At a meeting of the members of a mutual association or stockholders of a capital stock association, any association may convert itself into a federal savings association, hereinafter called a "federal associat…
§ 369.074 RSMo Conversion to state association, procedure, effect of
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369.074. Conversion to state association, procedure, effect of. — At a meeting of the members of a mutual association or of the stockholders of a capital stock association, any federal association may convert itself into an association under sections 369.010 to 369.369 upon a vot…
§ 369.078 RSMo Conversion from mutual to capital stock association — requirements — rules of division, content — certificate of conversion, issued, when, effect of
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369.078. Conversion from mutual to capital stock association — requirements — rules of division, content — certificate of conversion, issued, when, effect of. — 1. Any mutual savings and loan association chartered under the laws of this state may convert to and become a capital s…
§ 369.079 RSMo Merger or consolidation, procedure — association may charter interim association, when, procedure
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369.079. Merger or consolidation, procedure — association may charter interim association, when, procedure. — 1. A mutual association may merge with another association or federal mutual association in the manner provided in subsections 1 to 8 of this section. The board of direct…
§ 369.084 RSMo Merger, effect of
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369.084. Merger, effect of. — When the merger or consolidation becomes effective: (1) The several associations parties to the plan of merger or consolidation shall be a single association, which, in the case of a merger, shall be that association designated in the plan of merger …
§ 369.086 RSMo Savings and loan holding company, defined — subsidiary, defined — registration, examination and regulation by division
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369.086. Savings and loan holding company, defined — subsidiary, defined — registration, examination and regulation by division. — 1. A "savings and loan holding company" is an individual or company which, directly or indirectly, or acting in concert with one or more other person…
§ 369.087 RSMo Association may convert, merge or consolidate with bank or trust company — procedure
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369.087. Association may convert, merge or consolidate with bank or trust company — procedure. — 1. Upon compliance with any applicable laws of the United States and upon obtaining the approval of the director of finance, any association or federal association as defined in secti…
§ 369.089 RSMo Dissolution
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369.089. Dissolution. — 1. Any association may, at any meeting of the members of a mutual association or stockholders of a capital stock association, determine to liquidate and dissolve in accordance with the provisions of this section upon a two-thirds majority vote of all votes…
§ 369.094 RSMo Meetings, when, notice, voting
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369.094. Meetings, when, notice, voting. — 1. An annual meeting of the members of each mutual association shall be held on a date fixed by the bylaws of the association or, if none is so fixed, on the fourth Monday in March. A failure to hold the annual meeting at the time so spe…
§ 369.099 RSMo Inspection of records, by whom — credit reporting, allowed when
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369.099. Inspection of records, by whom — credit reporting, allowed when. — 1. Every member and every stockholder may inspect such books and records of an association as pertain to such person's loan or account. Otherwise, the right of inspection and examination of the books and …
§ 369.104 RSMo Publication of financial statement
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369.104. Publication of financial statement. — Every association shall publish annually, in accordance with regulations promulgated by the director of the division of finance, in a newspaper of general circulation in the county in which its home office is located, and shall deliv…
§ 369.109 RSMo Directors, election, powers, qualifications, meetings
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369.109. Directors, election, powers, qualifications, meetings. — 1. Directors shall be elected by ballot of the members of a mutual association or stockholders of a capital stock association for terms of one or more, but not exceeding, three years, the number of directors to be …
§ 369.114 RSMo Bonds, who shall have, amount, how and when modified — issuance by fidelity insurance company, requirements, modification of, procedure — reciprocal organization, when and how established
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369.114. Bonds, who shall have, amount, how and when modified — issuance by fidelity insurance company, requirements, modification of, procedure — reciprocal organization, when and how established. — 1. Every person appointed or elected to any position requiring the receipt, paym…
§ 369.124 RSMo Reimbursement of certain legal costs, when — liability insurance for certain personnel, who may issue, policy modifications, how — reciprocal organizations, when, annual report
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369.124. Reimbursement of certain legal costs, when — liability insurance for certain personnel, who may issue, policy modifications, how — reciprocal organizations, when, annual report. — 1. Subject to the provisions of subsections 2 and 3 of this section, any person shall be in…
§ 369.129 RSMo Association records, how kept
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369.129. Association records, how kept. — 1. Each association shall keep complete records and books of account covering all business of the association. The director of the division of finance may adopt regulations concerning the making and retention of the books of account, minu…
§ 369.134 RSMo Reserve account required
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369.134. Reserve account required. — Each association shall establish a general reserve account, for the purpose of absorbing losses, and such other reserves as the director of the division of finance may require. The association shall maintain the general reserve account at such…
§ 369.139 RSMo Emergency rules and regulations, when
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369.139. Emergency rules and regulations, when. — The director of the division of finance may promulgate rules and regulations to provide for the continuity of the management and business of an association in the event of a national emergency declared by the President of the Unit…
§ 369.144 RSMo Powers of an association
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369.144. Powers of an association. — Each association incorporated pursuant to or operating under the provisions of sections 369.010 to 369.369 has all the powers enumerated, authorized, and permitted by sections 369.010 to 369.369 and such other rights, privileges, and powers as…
§ 369.145 RSMo Safe deposit boxes, same rights, powers and duties as bank and trust companies
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369.145. Safe deposit boxes, same rights, powers and duties as bank and trust companies. — All associations regulated by this chapter, including federal associations, shall have the same rights, powers and duties, relating to safe deposit boxes, as provided to banks and trust com…
§ 369.149 RSMo Mutual associations — liability and rights of members — rejection or limitation on memberships
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369.149. Mutual associations — liability and rights of members — rejection or limitation on memberships. — The members of a mutual association shall not be responsible for any losses which the association's assets shall not be sufficient to satisfy, and the accounts of members sh…
§ 369.154 RSMo Accounts, who may own — contracts for — evidence of ownership — accounts of disabled person, how handled
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369.154. Accounts, who may own — contracts for — evidence of ownership — accounts of disabled person, how handled. — 1. An association may make any type of account contract not prohibited by sections 369.010 to 369.369 or by other applicable law or by regulations of the director …
§ 369.159 RSMo Fee or service charge authorized
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369.159. Fee or service charge authorized. — An association may impose fees or service charges on accounts; however, such fees or service charges are subject to such conditions or requirements that may be fixed by regulations pursuant to section 369.301 by the director of the div…
§ 369.161 RSMo Savings and loan association or savings bank may act as custodian, when
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369.161. Savings and loan association or savings bank may act as custodian, when. — In addition to any other banking authority, a savings and loan association or savings bank may act as a custodian for any entity, public or private, and place funds in any other financial institut…
§ 369.162 RSMo Irrevocable life insurance trusts — savings and loan associations may transfer fiduciary duty, when
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369.162. Irrevocable life insurance trusts — savings and loan associations may transfer fiduciary duty, when. — In addition to any other banking authority, a savings and loan association or a savings bank with authorized trust authority and created under the laws of this state ma…
§ 369.164 RSMo Attorney in fact, association may recognize, when
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369.164. Attorney in fact, association may recognize, when. — An association may continue to recognize the written authority of an attorney in fact to make any addition to and withdrawal from the account of an owner until it receives written notice of the death or adjudication of…
§ 369.169 RSMo Minors, association may treat as an adult, when
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369.169. Minors, association may treat as an adult, when. — An association may issue an account to a minor as the sole and absolute owner and receive payments, pay withdrawals, accept pledges and act in any other manner with respect to such account on the order of the minor with …
§ 369.174 RSMo Joint tenants' accounts, how handled
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369.174. Joint tenants' accounts, how handled. — 1. When an account is opened or maintained in an association in the names of two or more persons, whether minor or adult, as joint tenants or in form to be paid to any of them or the survivor of them and whether or not the names ar…
§ 369.176 RSMo State employee compensation deductions authorized for investment by office of administration
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369.176. 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…
§ 369.179 RSMo Accounts in trust, how handled
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369.179. Accounts in trust, how handled. — 1. An account owner who holds a certificate for an account indicating that such holder is trustee for a beneficiary or beneficiaries shall have the right to vote as a member if such account is in a mutual association as if such membershi…
§ 369.184 RSMo Fiduciary accounts, how handled
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369.184. Fiduciary accounts, how handled. — 1. An association may accept accounts in the name of any personal representative, custodian, conservator or other fiduciary for a named beneficiary or beneficiaries, and any such fiduciary may open and make additions to, and may withdra…
§ 369.186 RSMo Accounts payable to second named person upon death of first named person, how handled
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369.186. Accounts payable to second named person upon death of first named person, how handled. — 1. An association may contract for an account in the following form: "John Doe, pay on death to Henry Roe." Such account shall, during the lifetime of the person first named in the a…
§ 369.189 RSMo Deposits, form, terms and conditions, regulation of — director, imposition of restrictions and powers on associations, how
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369.189. Deposits, form, terms and conditions, regulation of — director, imposition of restrictions and powers on associations, how. — 1. An association may accept deposits in any form not prohibited by sections 369.010 to 369.369. 2. Deposits authorized by this section shall be …
§ 369.191 RSMo Association may own or control safety vault
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369.191. Association may own or control safety vault. — Every savings and loan association or savings association subject to the provisions of this chapter may for a fee or other consideration receive upon deposit for safekeeping personal property of every description, and own or…
§ 369.192 RSMo Remedies in enforcement of liabilities and right of renters of safe deposit boxes
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369.192. Remedies in enforcement of liabilities and right of renters of safe deposit boxes. — Every association doing a safe deposit business shall be entitled to the following special remedies in enforcing the liabilities and rights of depositories or lessors and of renters or l…
§ 369.194 RSMo Accounts declared legal investments for fiduciaries
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369.194. Accounts declared legal investments for fiduciaries. — 1. Accounts in insured associations are legal and proper investments or depositaries for fiduciaries of every kind and nature, all political subdivisions or instrumentalities of this state, insurance companies, busin…
§ 369.204 RSMo Earnings of accounts, how determined and distributed
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369.204. Earnings of accounts, how determined and distributed. — Earnings, methods of calculating earnings and rate of earnings, including contractually fixed rates, and the minimum amount upon which earnings shall be paid shall be determined by the board of directors, and earnin…
§ 369.209 RSMo Withdrawal, how, when — failure to pay withdrawal applications, powers of director
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369.209. Withdrawal, how, when — failure to pay withdrawal applications, powers of director. — 1. Except for accounts which provide for a specified contractual time or notice or are subject to a pledge, and, subject to the right of the association to require advance notice of wit…
§ 369.211 RSMo Joint renters of safe deposit box — survivor's rights
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369.211. Joint renters of safe deposit box — survivor's rights. — Any association doing a safe deposit business may enter into a lease under which a safe deposit box is rented in the names of two or more persons, whether residents or nonresidents of this state, as joint renters. …