Title XXIV — BUSINESS AND FINANCIAL INSTITUTIONS

362.385. Rate of interest. — No bank or trust company shall pay any interest on any deposits of money, public or private, which are payable on demand, at a rate of interest in excess of the current rate of interest authorized by the laws of the United States of America or by regu…

362.405. Assessments by director of finance paid to director of revenue. — When the director of finance, pursuant to the powers conferred on him by chapter 361, levies any assessment upon any bank or trust company and notifies the bank or trust company of the amount thereof, the …

362.410. Preservation of books and records. — 1. The division of finance shall issue rules for classifying the records kept by all banks and trust companies in the state and specifying the minimum period for which records of each class shall be retained. The period may be permane…

362.413. Reproduction of records — admissible in evidence — affidavit in lieu of appearance. — 1. Anything in the law to the contrary notwithstanding, every bank and every trust company organized under the laws of this state and every national banking association and every other …

362.415. Prohibitions against encroachments upon certain powers of banks. — 1. No person unauthorized by law shall subscribe to or become a member of, or be in any way interested in any association, institution or company formed or to be formed for the purpose of issuing notes or…

362.420. Prohibition of banking business. — No corporation, domestic or foreign, other than a corporation formed under or subject to the banking laws of this state or of the United States, except as permitted by such laws, shall by any implication or construction be deemed to pos…

362.421. Advertising as bankers, prohibited, when — penalty. — Any person, association of persons, company or corporation not engaged in the business of banking under the laws of the United States or of the state of Missouri, using the words "bank", "banker", "bankers" or "bankin…

362.422. Disclosure of nonpublic personal information by financial institutions prohibited, rules, notice. — 1. No person shall disclose any nonpublic personal information to a nonaffiliated third party contrary to the provisions of Title V of the Gramm-Leach-Bliley Financial Mod…

362.423. Foreign banks or foreign or federally chartered loan associations may acquire and enforce indebtedness secured by property in this state. — Any foreign banking corporation or foreign or federally chartered savings and loan association, including, but not by way of limita…

362.424. Suspected fraudulent activity or financial exploitation, reporting of — trusted contact program, purpose, requirements. — 1. For purposes of this section, the following terms mean: (1) "Bank", includes any state or federally chartered bank, savings bank, or savings and l…

362.425. Use of sign or words indicating bank by unauthorized persons prohibited. — 1. No person, except a national bank, a federal reserve bank, or a corporation duly authorized by the director to transact a banking business in this state, shall make use of any office sign at th…

362.430. Conditions to be complied with by foreign banking corporations applying for license. — 1. Every foreign banking corporation before being licensed by the finance director to transact in this state the business of buying, selling, paying or collecting bills of exchange, or…

362.435. Foreign banking corporation may transact business in this state, when. — 1. No foreign banking corporation, other than a bank organized under the laws of the United States, shall transact in this state the business of buying, selling or collecting bills of exchange, or o…

362.440. Licenses to foreign corporations — renewal. — 1. Upon receipt by the director from any foreign corporation of an application in proper form for leave to do business in this state under the provisions of this chapter, he or she shall, by such investigation as he or she ma…

362.445. Process defined — director of finance to accept service of process, when — fee. — 1. The term "process", when used in this section, shall include any writ, summons, petition, or order whereby any suit, action, or proceeding shall be commenced. 2. Any state or federally c…

362.450. Revocation of authorization certificate or license in certain cases. — If at any time the director shall be satisfied that any foreign corporation to which has been issued an authorization certificate or license is violating any of the provisions of this chapter, or is c…

362.455. Rights and privileges of foreign banking corporation under license — effect of revocation. — 1. When the director shall have issued a license to any such banking corporation, it may engage in the business specified in section 362.435 at the location specified in such lic…

362.460. Reports of foreign banking corporations — penalties. — 1. Every foreign banking corporation licensed by the finance director to engage in business in this state shall, at such time and in such form as the director shall prescribe, make written report to the director unde…

362.462. Relocation of main banking house in another state. — A bank or trust company subject to the provisions of chapter 362 may, with the approval of the director of the division of finance, relocate its main banking house up to thirty miles to a location in another state. No …

362.463. Out-of-state bank may relocate to this state. — An out-of-state bank may, with the approval of the director of the division of finance, relocate its main banking house up to thirty miles to a location in Missouri. The director shall grant a certificate of incorporation t…

362.464. Requirements for foreign bank to relocate in Missouri — application, contents — approval, effect — certificate, filing required — relocation of domestic bank, conversion of charter. — 1. No out-of-state bank shall be permitted to relocate its main banking house to Missou…

362.465. Deposits of minors. — When any deposit is made by or in the name of any minor, it shall be held for the exclusive right and benefit of the minor, and free from the control or lien of all other persons, except creditors, and shall be paid, together with any interest there…

362.466. Applicability of law — rights, powers, protections. — Any bank or trust company holding deposit accounts pursuant to this chapter shall have the same rights, powers and protections provided a bank or trust company under subsection 6 of section 362.471 as it relates to an…

362.470. Joint deposits. — 1. When a deposit is made by any person in the name of the depositor and any one or more other persons, whether minor or adult, as joint tenants or in form to be paid to any one or more of them, or the survivor or survivors of them and whether or not th…

362.471. Pay-on-death accounts — form — effect — payments from. — 1. A bank or trust company may contract for an account, including a certificate of deposit, in the following form: "John Doe, pay on death to Henry Doe". Such account shall, during the lifetime of the person or per…

362.475. Deposits of deceased trustee shall be paid to beneficiary. — When any deposit is made by any person describing himself in making the deposit as trustee for another, and no other or further notice of the existence and terms of a legal and valid trust than this description…

[Repealed or reserved.]

362.483. Safe deposit corporation may be granted a certificate of incorporation by director, when — purposes of corporation. — 1. The director of finance may grant a certificate of incorporation for a safe deposit corporation, all of the stock of which will be held by a bank or t…

362.485. Special remedies available to banks doing a safe deposit business. — Every bank and trust company doing a safe deposit business and every safe deposit company owned by a bank or trust company shall be entitled to the following special remedies in enforcing the liabilitie…

362.487. Joint renters of safe deposit boxes authorized — surviving joint renter opens box, lessor's option not required to be present. — 1. Any bank or trust company doing a safe deposit business and any safe deposit company owned by a bank or trust company may enter into a leas…

362.488. Death of lessee, duties of lessor — additional duties by contract. — 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 lessor by contract may accept the following additional duti…

362.490. Banks exempt from furnishing security for insured deposits — single bank pooling of securities, administrator, requirements. — 1. Notwithstanding any provision of law of this state or of any political subdivision thereof requiring security for deposits in the form of col…

362.495. When payment and withdrawals may be suspended. — Whenever unusual withdrawals from any bank or trust company doing a banking business in this state, organized under the laws of this state are being made, or whenever in the judgment of the president and cashier or preside…

362.500. Shall notify finance director of suspension — duties of commissioner. — 1. Upon the suspension of the payment of checks and withdrawal of assets as authorized by section 362.495, it shall be the duty of the president, cashier, or the chairman of the board of directors of…

362.505. When director shall liquidate. — If the state finance director shall, during the period of sixty days next following the taking possession of any such bank or trust company under the provisions of law, find that such bank or trust company should not be permitted to conti…

362.510. When director shall liquidate. — If the state finance director shall, during the period of sixty days next following the taking possession of any such bank or trust company under the provisions of law, find that such bank or trust company should not be permitted to conti…

362.515. Special deposits — nature — use. — During the period of sixty days next following the taking charge of any such bank or trust company as authorized by law, deposits may be received from the customers of said bank, or trust company and others as special deposits, or trust…

362.520. Banks may close, when — bank holiday, effect of. — 1. Any bank or trust company organized under the laws of the state of Missouri or any national bank doing business in Missouri may remain closed on any Sunday or public holiday, as defined in section 9.010, and, in addit…

362.530. Contributions to charitable agencies. — Anything in any other law of this state to the contrary notwithstanding, every bank and every trust company organized under the laws of this state shall have power to, and may contribute to community funds, or to civic, charitable,…

362.550. Appointment as fiduciary — investments — handling of trust property — effect of merger or consolidation. — 1. When any trust company organized pursuant to the laws of this state shall have been nominated as personal representative of the last will of any deceased person,…

362.560. Trust guaranty fund. — The directors of any state or national bank or trust company qualified to act as fiduciary in this state may from time to time set apart, as a trust guaranty fund, such portion of the profits as they may consider expedient. The fund shall be invest…

362.570. Application of trust guaranty fund. — 1. The trust guaranty fund shall be absolutely pledged for the faithful performance by the bank or trust company of its duties and undertakings under the provisions of subsection 3 of section 362.105 and shall be applied to make good…

362.575. Personal representatives and other persons not liable as stockholders. — No person holding stock in the corporation as personal representative, conservator, or trustee, and no person holding this stock as collateral security shall be personally subject to any liability a…

362.580. Common trust fund authorized. — 1. Any state or national bank or trust company qualified to act as fiduciary in this state may establish common trust funds for the purpose of furnishing investments to itself as fiduciary, or to itself and others as cofiduciaries, or to o…

362.590. Bond not required of banks and trust companies, when acting as fiduciaries. — Any state or national bank or trust company qualified to act as fiduciary in this state shall be permitted to qualify as guardian, executor, administrator, assignee, receiver, trustee, or in an…

362.600. Reciprocal corporate fiduciary powers — certificates of reciprocity. — 1. The term "out-of-state bank or trust company", as used in this section, shall mean: (1) Any bank or trust company now or hereafter organized under the laws of any state of the United States other t…

362.610. Banks and trust companies may merge or consolidate. — Any bank, banks, trust company or trust companies, organized pursuant to the laws of this state, may be merged in any other such bank or trust company, or may be consolidated with any other such bank, banks, trust com…

362.620. Agreement for consolidation. — If the agreement provides for a consolidation, then the agreement shall set out: (1) The terms and conditions of the consolidation and the method of carrying same into effect; (2) The name of the proposed corporation which may be the name i…

362.630. Agreement for merger. — If the agreement provides for a merger, then it shall set out: (1) The names of the companies thereto; (2) The terms and conditions of the merger, and the mode of carrying same into effect; (3) The corporate name of the receiving bank or trust com…

362.640. Agreement for merger or consolidation. — Each bank and trust company which is to be a party to the merger or to the consolidation shall, upon being first authorized by its board of directors by the affirmative vote of a majority of all the members of the board, enter int…