reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.375 - Adverse claim to deposit — not effectual, when — contract presented by third party, powers of bank or trust company.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1995
362.375. Adverse claim to deposit — not effectual, when — contract presented by third party, powers of bank or trust company. —
1. Notice to any bank or trust company doing business in this state of an adverse claim to a deposit standing on its books to the credit of any person shall not be effectual to cause the bank or trust company to recognize the adverse claimant unless the adverse claimant shall also either procure a restraining order, injunction or appropriate process against the bank or trust company from a court of competent jurisdiction in a cause therein instituted by him wherein the person to whose credit the deposit stands is made a party and served with summons, or shall execute to the bank or trust company, in form and with sureties acceptable to it, a bond indemnifying the bank or trust company from any and all liability, loss, damage, cost and expenses for and on account of the payment of the adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of the bank or trust company; provided, that this law shall not apply in any instance where the person to whose credit the deposit stands is a fiduciary for the adverse claimant, and the facts constituting the relationship, as also the fact showing reasonable cause of belief on the part of the claimant that the fiduciary is about to misappropriate the deposit, are made to appear by the affidavit of the claimant.
2. Notwithstanding any law to the contrary, a bank or trust company is authorized to honor, dishonor or place conditions on any contract, agency agreement, or other document presented by a third party, including a customer of the bank or trust company, unless and until the bank or trust company agrees in writing to honor such document or documents pursuant to a contract or agreement. This subsection shall not apply to government documents, including any lawful court orders, which shall be honored as otherwise may be provided by law. No provision of this subsection shall change current law on the type, quality and coverage of insurance the creditor may require the debtors to purchase on the debtor's person or collateral.
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(RSMo 1939 § 7982, A.L. 1967 p. 445, A.L. 1995 S.B. 178)
Prior revision: 1929 § 5387
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.385 - Rate of interest.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 regulations issued under authority of these laws, to be paid on the deposits by member banks of the Federal Reserve System or by banks or trust companies whose deposits are insured by the Federal Deposit Insurance Corporation; and no bank or trust company wherein any deposits of such moneys shall be made shall become obligated or liable on account thereof except for the safekeeping thereof and for the payment of the amount of the deposits with interest thereon, if any, lawfully payable under the provisions of this chapter.
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(RSMo 1939 § 7984, A.L. 1967 p. 445)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.405 - Assessments by director of finance paid to director of revenue.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 amount so assessed shall become a liability of and shall be paid by the bank or trust company to the state director of revenue.
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(RSMo 1939 § 7986, A. 1949 H.B. 2085, A.L. 1967 p. 445)
Prior revisions: 1929 § 5390; 1919 § 11769
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.410 - Preservation of books and records.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1988
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 permanent or for a term of years. Prior to issuing these rules the division of finance shall consider:
(1) Court and administrative proceeding requirements pertaining to evidence and the production of bank records;
(2) State and federal statutes of limitations and record retention statutes and regulations; and
(3) Other matters which the division considers pertinent so that its recommendations protect bank records for as short a period as possible and ensure the safety and soundness of the bank.
2. A state chartered bank may have records in its custody reproduced as provided in section 362.413.
3. No bank or trust company shall be liable for disposing of any record provided that such bank or trust company complies with the rules issued by the division of finance pursuant to this section.
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(RSMo 1939 § 7987, A.L. 1967 p. 445, A.L. 1988 S.B. 773)
Prior revisions: 1929 § 5391; 1919 § 11770
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.415 - Prohibitions against encroachments upon certain powers of banks.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 other evidences of debt to be loaned or put in circulation as money; nor shall any such person subscribe to or become in any way interested in any bank or fund created or to be created for the like purposes or either of them.
2. No corporation, domestic or foreign, other than a national bank or a federal reserve bank, unless expressly authorized by the laws of this state, shall employ any part of its property, or be in any way interested in any fund which shall be employed for the purpose of receiving deposits, making discounts, or issuing notes or other evidences of debt to be loaned or put into circulation as money.
3. All notes and other securities for the payment of any money or the delivery of any property made or given to any such association, institution or company, or made or given to secure the payment of any money loaned or discounted by any corporation or its officers contrary to the provisions of this section shall be void.
4. No person, association of persons or corporation, unless expressly authorized by law, shall keep any office for the purpose of issuing any evidences of debt, to be loaned or put in circulation as money; nor shall they issue any bills or promissory notes or other evidences of debt for the purpose of loaning them or putting them in circulation as money, unless thereto specially authorized by law.
5. Every person, and every corporation, director, agent, officer or member thereof, who shall violate any provision of this section, directly or indirectly, or assent to such violation, shall forfeit one thousand dollars to the state.
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(RSMo 1939 § 7990)
Prior revisions: 1929 § 5394; 1919 § 11773
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.420 - Prohibition of banking business.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1949
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 possess the power of carrying on the business of discounting bills, notes or other evidences of debt, of receiving deposits, of buying and selling bills of exchange, or of issuing bills, notes or other evidences of debt for circulation as money, or of engaging in any other form of banking.
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(RSMo 1939 § 7890, A. 1949 H.B. 2085)
Prior revisions: 1929 § 5296; 1919 § 11684
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.421 - Advertising as bankers, prohibited, when — penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 "banking" to designate his or their business or a painted or printed sign at his or their place of business or in a newspaper or any other kind of advertisement or in a letterhead or on an envelope used by him or them, shall be deemed guilty of a misdemeanor and upon conviction fined not less than one hundred dollars.
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(RSMo 1939 § 4515)
Prior revisions: 1929 § 4124; 1919 § 3370; 1909 § 4587
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.422 - Disclosure of nonpublic personal information by financial institutions prohibited, rules, notice.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 01 Jul 2001, see footnote
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 Modernization Act of 1999 (15 U.S.C. 6801 to 6809). A state agency with the primary regulatory authority over an activity engaged in by a financial institution which is subject to Title V of the Gramm-Leach-Bliley Financial Modernization Act of 1999 may adopt rules and regulations to carry out this section with respect to such activity. Such rules and regulations adopted pursuant to this section shall be consistent with and not be more restrictive than standards contained in Title V of the Gramm-Leach-Bliley Financial Modernization Act of 1999.
2. Unless prohibited by federal law or regulation, any financial institution required to provide a disclosure of the institution's privacy policy pursuant to Title V of the Gramm-Leach-Bliley Financial Modernization Act of 1999 shall provide an initial notice regarding such privacy policy:
(1) At the time the customer relationship is established for consumers who become new customers of the financial institution on or after July 1, 2001; and
(2) Before June 30, 2002, for consumers who are existing customers of the financial institution.
­­A financial institution shall not disclose any nonpublic personal information to a nonaffiliated third party contrary to the provisions of Title V of the Gramm-Leach-Bliley Financial Modernization Act of 1999 before the financial institution has made the disclosure required in this section.
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(L. 2001 H.B. 801 § 1 merged with S.B. 382 § 1)
Effective 7-01-01
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.423 - Foreign banks or foreign or federally chartered loan associations may acquire and enforce indebtedness secured by property in this state.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1965
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 limitation, trust companies, mutual savings banks and national banking associations, may, without complying with sections 362.430, 362.435 and 362.440 relating to transaction of business in this state by a foreign banking corporation or with section 369.580, relating to transaction of business in this state by a foreign savings and loan association, or without becoming licensed to do business in this state under any other statute of this state, acquire indebtedness in this state secured, with or without other security, by mortgage or deed of trust on real estate situated in this state, and hold, collect and enforce the same within this state. Any such foreign banking corporation or foreign or federally chartered savings and loan association may take, acquire, hold, collect and enforce all notes and security instruments evidencing or securing such loans or indebtedness, and its activity in this state in purchasing, holding, servicing, collecting or enforcing such loans or indebtedness shall not constitute the doing of business by it in this state within the meaning of any law of this state. If tender of payment of all or any portion of such indebtedness is made in accordance with the terms of the note and security instruments evidencing such indebtedness to any institution or other agent in Missouri designated by such foreign banking corporation or foreign or federally chartered savings and loan association to represent it in collecting such indebtedness, interest upon the amount so tendered shall not accrue after the date of the tender. Nothing in this section contained shall be construed as authorizing any such corporation or association to transact the general business of a bank or trust company or savings and loan association in this state without compliance with all applicable laws, or authorize any such corporation to hold real estate taken in payment of a debt by foreclosure or otherwise longer than the period provided by law for domestic corporations.
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(L. 1953 p. 263 § 1, A.L. 1965 p. 562)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.425 - Use of sign or words indicating bank by unauthorized persons prohibited.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 the place where the business is transacted having thereon any artificial or corporate name, or other words indicating that the place or office is the place or office of a bank; nor shall the person or persons make use of or circulate any letterheads, billheads, blank forms, notes, receipts, certificates, circulars, or any written or printed or partly written and partly printed paper whatever, having thereon any artificial or corporate name, or other word or words, indicating that the business is the business of a bank.
2. No person, association, firm or corporation, other than a corporation authorized by the laws of this state to do the business of a trust company and subject to the supervision of the director as provided by law, shall make use of the words "trust company" as part of any artificial or corporate name or title, nor make use of any sign at the place where his or its business is transacted, having thereon these words or any other words or word indicating that the place or office is the place or office of a trust company, nor make use of or circulate any written or printed, or partly printed, matter whatever having thereon these words or any other word or other words indicating that the business conducted is that of a trust company, nor transact business in such way or manner as to lead the public to believe or as in the opinion of the director might lead the public to believe that his or its business is that of a trust company, excepting banks who may be lawfully exercising trust company powers.
3. Every person violating the provisions of this section, either as an individual or an interested party in any association, firm or corporation, shall be punished by a fine of not less than one hundred dollars nor more than one thousand dollars and a further fine of fifty dollars per day for each day after written notice of the violation.
4. The director shall have authority to examine the accounts, books and papers of any person, association, firm or corporation who he has reason to suspect is violating the provisions of this section and to summon and examine under oath, which he is empowered to administer, any person who he may have reason to believe has violated or is a participant in any violation of the provisions of this section.
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(RSMo 1939 § 7991, A.L. 1967 p. 445)
Prior revisions: 1929 § 5395; 1919 § 11774
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.430 - Conditions to be complied with by foreign banking corporations applying for license.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2019, 2 histories
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 of issuing letters of credit or of receiving money for transmission or transmitting the same by draft, check, cable or otherwise, or of making sterling or other loans, or any part of such business, or before maintaining in this state any agency for carrying on such business or any part thereof, shall subscribe and acknowledge and submit to the finance director at his office a separate application certificate for each agency which such foreign corporation proposes to establish in this state, which shall specifically state:
(1) The name of such foreign banking corporation;
(2) The place where its business is to be transacted in this state, and the name of the agent or agents through whom such business is to be transacted;
(3) The amount of its capital actually paid in cash and the amount subscribed for and unpaid;
(4) The actual value of the assets of such corporation which must be at least two hundred fifty thousand dollars in excess of its liabilities and a complete and detailed statement of its financial condition as of a date within sixty days prior to the date of such application.
2. At the time such application certificate is submitted to the director, such corporation shall also submit a duly exemplified copy of its charter and a verified copy of its bylaws, or the equivalent thereof.
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(RSMo 1939 § 7992, A.L. 2019 S.B. 179)
Prior revisions: 1929 § 5396; 1919 § 11775
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.435 - Foreign banking corporation may transact business in this state, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1949
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 of issuing letters of credit or of receiving money for transmission or transmitting the same by draft, check, cable or otherwise, or of making sterling or other loans or transacting any part of such business, or maintaining in this state any agency for carrying on such business, or any part thereof, unless such corporation shall have:
(1) Been authorized by its charter to carry on such business and shall have complied with the laws of the state or country under which it is incorporated;
(2) Furnish to the director such proof as to the nature and character of its business and as to its financial condition as he may require;
(3) Designated the director by a duly executed instrument in writing its true and lawful attorney, upon whom all process in any action or proceeding by any resident of the state against it may be served with the same effect as if it were a domestic corporation and had been lawfully served with process within the state;
(4) Paid to the state director of revenue a license fee of two hundred and fifty dollars;
(5) Received a license duly issued to it by the director as provided in section 362.440.
2. This section shall not be construed to prohibit foreign banking corporations which do not maintain an office in this state for the transaction of business from making loans in this state secured by mortgages on real property, nor from accepting assignments of mortgages covering real property situated in this state, nor from making loans through correspondents which are engaged in the business of a bank or trust company in this state under the laws of the state.
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(RSMo 1939 § 7993, A. 1949 H.B. 2085)
Prior revisions: 1929 § 5397; 1919 § 11776
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.440 - Licenses to foreign corporations — renewal.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2019, 2 histories
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 may deem necessary, satisfy himself or herself whether the applicant may safely be permitted to do business in this state.
2. If from such investigation he or she shall be satisfied that it is safe and expedient to grant such application and it shall have been shown to his or her satisfaction that such applicant may be authorized to engage in business in this state pursuant to the provisions of this chapter and has complied with all the requirements of this chapter, he or she shall issue a license under his or her hand and official seal authorizing such applicant to carry on such business at the place designated in the license and, if such license is for a limited time, specifying the date upon which it shall expire.
3. Whenever any such license is issued for one year or less, the director may, at the expiration thereof, renew such license for one year.
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(RSMo 1939 § 7891, A.L. 2000 S.B. 896, A.L. 2019 S.B. 179)
Prior revisions: 1929 § 5297; 1919 § 11685
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.445 - Process defined — director of finance to accept service of process, when — fee.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2006
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 chartered bank, trust company, or thrift institution may be served with process according to the Missouri Rules of Civil Procedure describing service of process for corporations.
3. Any state or federally chartered bank, trust company, or thrift institution may appoint a Missouri service agent and register the appointment with the director of finance who will maintain a record of all such appointments for public reference.
4. Whenever pursuant to express provisions of this chapter, the director shall have been duly appointed attorney to receive service of process for any foreign corporation or out-of-state bank or trust company, he or she shall forthwith forward by mail, postage prepaid, a copy of every process served upon him or her directed to the president or secretary of such corporation, at its last known post office address.
5. For each copy of process the director of revenue shall collect the sum of ten dollars, which shall be paid by the plaintiff or moving party at the time of such service, to be recovered by the plaintiff as part of the plaintiff's taxable disbursement if he or she succeeds in his or her suit or proceeding.
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(RSMo 1939 § 7892, A. 1949 H.B. 2085, A.L. 2006 S.B. 892)
Prior revisions: 1929 § 5298; 1919 § 11686
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.450 - Revocation of authorization certificate or license in certain cases.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2019, 2 histories
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 conducting its business in an unauthorized or unsafe manner, or is in an unsound or unsafe condition to transact its business, or cannot with safety and expediency continue business, the director may over his or her official signature and seal of office notify the holder of such authorization certificate or license that the same is revoked.
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(RSMo 1939 § 7893, A.L. 2000 S.B. 896, A.L. 2019 S.B. 179)
Prior revisions: 1929 § 5299; 1919 § 11687
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.455 - Rights and privileges of foreign banking corporation under license — effect of revocation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 license for a period of one year from the date of such license; and such license may, in the discretion of the director, be reissued from year to year upon the payment by such foreign banking corporation of the sum of two hundred and fifty dollars upon each date that such license is reissued.
2. No such license shall be transferable or assignable and shall be at all times conspicuously displayed in the place of business specified therein.
3. In the event that such license shall have been revoked by the director, as provided in section 362.450, it shall be surrendered to the director within twenty-four hours after such corporation has received written notice of such revocation.
4. Whenever the director shall have revoked any such license and shall have taken the action to make such revocation effective specified in section 362.450, all the rights and privileges of such foreign corporation to transact business in this state shall forthwith cease and determine.
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(RSMo 1939 § 7994)
Prior revisions: 1929 § 5398; 1919 § 11777
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.460 - Reports of foreign banking corporations — penalties.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 under the oath of one of its officers, managers or agents transacting business in this state, showing the amount of its assets and liabilities and containing such other matters as the director shall prescribe.
2. If any such corporation shall fail to make any such report as directed by the director it shall be subject to the penalties prescribed by section 362.295, and any false statement contained in any such report or in any other sworn statement made to the director by such corporation in pursuance of the provisions of this chapter shall constitute perjury.
3. Nothing contained in this section shall be deemed to modify the prohibition of section 362.415.
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(RSMo 1939 § 7995)
Prior revisions: 1929 § 5399; 1919 § 11778
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.462 - Relocation of main banking house in another state.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 13 Jun 1995, see footnote
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 such relocation shall occur until such bank has obtained a charter or certificate of incorporation from such other state. Following the relocation, the institution may maintain its Missouri locations and, if such are maintained, the bank may establish additional Missouri locations under the provisions of section 362.107, to the same extent as if the bank was a Missouri bank, provided the state to which the Missouri bank relocates, permits banks chartered under such state authority's powers substantially similar to the authority provided in sections 362.462 to 362.464. Such power may be provided by statute, regulation or such state bank regulator's order. Sections 362.462 to 362.464 authorize parity between state and national banks as provided in 12 U.S.C. 30, notwithstanding any other law to the contrary.
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(L. 1995 H.B. 63, et al. § 7)
Effective 6-13-95
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.463 - Out-of-state bank may relocate to this state.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 13 Jun 1995, see footnote
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 to any out-of-state bank which has relocated its main office to Missouri pursuant to the provisions of this section.
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(L. 1995 H.B. 63, et al. § 8)
Effective 6-13-95
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.465 - Deposits of minors.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 thereon, to or upon the order of the person in whose name the deposit is made, and the check, receipt or acquittance of the minor shall be a valid and sufficient release and discharge for the deposit or any part thereof to the bank or trust company.
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(RSMo 1939 § 7996, A.L. 1967 p. 445)
Prior revisions: 1929 § 5400; 1919 § 11779
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.466 - Applicability of law — rights, powers, protections.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1997
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 any account; nor shall any law impose a duty to the contrary on such bank or trust company.
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(L. 1997 H.B. 257)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.471 - Pay-on-death accounts — form — effect — payments from.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1997
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 persons first named in the account, be the property of and under the sole control of the person or persons first named; and the first named person or persons shall be entitled to cancel, change, give away, or otherwise deal with the account as if no other person was named in the account.
2. At the death of all of the first named persons, the account shall become the property of the person or persons named as the "pay-on-death" person or persons. The bank or trust company is authorized to require proof of death and surrender of the evidence of account prior to withdrawal after the death of all of the first named persons.
3. If there is more than one first named person who is a holder of the account, the first named persons shall be joint tenants with right of survivorship. If there is more than one pay-on-death person, the account shall be paid in equal shares to pay-on-death persons living at the time all first named persons have died. The joint tenancy referred to in this section shall be governed by section 362.470.
4. The bank or trust company may make such contractual terms as the parties may agree to with respect to an account contracted for under this section.
5. The form of account authorized by this section shall be valid and shall supersede and override the requirements of chapter 474 as to disposition of the property of decedents and the requirements as to testamentary dispositions by will.
6. Any payment made by a bank or trust company on an account as described in this section shall be entitled to full credit upon such payment without necessity of determining whether any other person shall have an interest in the account, unless the bank or trust company shall have been served with process by a court of competent jurisdiction restricting payment on the account in accordance with the terms of such process.
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(L. 1984 H.B. 1033, A.L. 1997 H.B. 257)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.475 - Deposits of deceased trustee shall be paid to beneficiary.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
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 shall have been given in writing to the bank or trust company, in the event of the death of the person so described as trustee, the deposit or any part thereof, together with the dividends or interest thereon, may be paid to the person for whom the deposit was thus stated to have been made.
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(RSMo 1939 § 7996, A.L. 1967 p. 445)
Prior revisions: 1929 § 5400; 1919 § 11779
(1959) Where bank deposit slip and signature card stated that account was "payable on death" to daughter of depositor, and son of deceased depositor testified that depositor stated to bank officer that she wanted either depositor or her daughter to be able to withdraw funds from account and after her death daughter was to be absolute owner, a valid and enforceable trust in favor of the daughter existed on death of depositor. Butler State Bank v. Duncan (A.), 319 S.W.2d 913.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.480 - Deposits of trustee, how paid out.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.480. Deposits of trustee, how paid out. —
Whenever any deposit shall be made in any bank, banking institution or trust company by any person as trustee, or by any person in trust for another, and no other or further notice of the existence and terms of such trust shall have been given in writing to the bank, banking institution or trust company, the same may be paid upon the check or order of said trustee, bearing his signature and containing the same words in which said deposit was made.
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(RSMo 1939 § 3536)
Prior revisions: 1929 § 3146; 1919 § 13428; 1909 § 11929
CROSS REFERENCE:
Rules as to dealing with fiduciary depositors, 469.290 to 469.320
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.483 - Safe deposit corporation may be granted a certificate of incorporation by director, when — purposes of corporation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1977
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 trust company, in the manner provided for the incorporation of banks and trust companies in sections 362.020 to 362.035.
2. Any such safe deposit corporation shall be incorporated only for the purpose of taking and receiving as bailee for safekeeping and storage only, jewelry, plate, money, specie, bullion, stocks, bonds, securities and valuable papers of any kind, and other valuables, upon such terms and for such compensation as may be agreed upon; and letting out vaults, safes and other receptacles for the uses, purposes and benefits of such corporation.
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(L. 1977 S.B. 420)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.487 - Joint renters of safe deposit boxes authorized — surviving joint renter opens box, lessor's option not required to be present.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1994
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 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. If the lease provides that one or more of such persons, or the survivor thereof, has access and entry to the box and the right to remove the contents whether the other renter or renters are living, mentally incapacitated or dead, the bank, trust company, or safe deposit company so renting the box, or upon the premises of which the box is located, shall not be liable for the removal of any of the contents of the box by the survivors thereof. No presumption of ownership of the contents of any such box shall be deemed to be created by the rental contract.
2. Notwithstanding any other provision of law to the contrary, there is no presumption that the lessor has custody of a will when the will is held in a jointly rented safe deposit box. At the lessor's option, the lessor's officers and employees are not required to be present when the jointly rented safe deposit box is accessed by the surviving joint renter.
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(L. 1975 S.B. 141 § 1, A.L. 1977 S.B. 420, A.L. 1981 S.B. 28, A.L. 1983 S.B. 44 & 45, A.L. 1994 H.B. 1312)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.488 - Death of lessee, duties of lessor — additional duties by contract.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1984
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 duties: The safe deposit box may be opened at any time thereafter, in the presence of persons claiming to be interested in the contents thereof, by two employees of the lessor, one of whom shall be an officer of the lessor; and such employees may remove all instruments of a testamentary nature and deposit the same with the probate division of the circuit court, taking its receipt therefor, and such employees in their discretion may deliver life insurance policies therein contained to the beneficiaries named in such policies, and any deed to a cemetery lot and any burial instructions found therein to the appropriate parties; and such lease shall state that the lessor retains the right to open the safe deposit box on the death of any lessee, including joint renters. When a safe deposit box is opened as authorized in this subsection, the contents not specifically authorized for removal shall remain in the box leased to joint renters. The remaining contents of all other safe deposit boxes so opened shall be kept and retained by the bank, trust company, or safe deposit company and shall be delivered only to the parties legally entitled to the same. In the event no person claims to be interested in the contents of a box within sixty days after the death of the lessee, the lessor may open the box by forcible entry and remove the contents and dispose of the same in accordance with the procedures specified in section 362.485.
2. Upon the death of any lessee of a safe deposit box and upon request of the probate division of the circuit court, the lessor shall reply to such request and inform such official if the designated person was the lessee of a safe deposit box at the time of death.
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(L. 1981 S.B. 28, A.L. 1984 H.B. 1088)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.490 - Banks exempt from furnishing security for insured deposits.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.490. Banks exempt from furnishing security for insured deposits. —
Notwithstanding any provision of law of this state or of any political subdivision thereof requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not be required to the extent said deposits are insured under the provisions of an act of congress creating and establishing the Federal Deposit Insurance Corporation or similar agency created and established by the Congress of the United States.
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(RSMo 1939 § 8000)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.495 - When payment and withdrawals may be suspended.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2001
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 president and secretary of such bank or trust company and/or the board of directors thereof, unusual withdrawals are about to be made, such officers and/or directors are hereby authorized to suspend payment of checks of depositors and any and all other withdrawals of assets of such bank or trust company for a period of six banking days. The board of directors may designate a chief executive officer who is not the president, but who shall perform all the duties of the president required by this section.
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(RSMo 1939 § 8003, A.L. 2001 H.B. 738 merged with S.B. 186)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.500 - Shall notify finance director of suspension — duties of commissioner.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
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 the bank, or trust company doing a banking business, so suspending payment to notify the state finance director immediately.
2. Upon the receipt of the notice required by law, it shall be the duty of the state finance director to take charge of said bank, or trust company doing a banking business, and to supervise the receipt of the deposits and payment of checks and withdrawals of assets during a period of sixty days next following the taking charge thereof, and such state finance director shall have power and is hereby authorized, during said period of sixty days, to limit, upon a basis of equality, prorate or prohibit entirely, all withdrawals of deposits or assets from said bank or trust company; provided, however, that no preferences shall be given any depositor or creditor of said bank or trust company.
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(RSMo 1939 § 8004)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.505 - Audit of bank by director — approval of reopening plans.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.505. Audit of bank by director — approval of reopening plans. —
During said sixty-day period next following the taking charge of any such bank or trust company, by the state finance director, a careful audit and inventory of the assets and liabilities of said bank or trust company shall also be made by said state finance director to determine if said bank or trust company shall be permitted to continue in business, and when said state finance director shall approve a contract or plan whereby such bank or trust company is permitted to receive deposits, pay checks and continue to do a banking business, or reorganize, entered into between the depositors of such institution, owning or controlling eighty-five percent or more of the deposits therein, which are not preferred claims, special deposits or deposits secured by bonds or collateral, on the one hand, and the bank or trust company or its board of directors on the other, then and in that event all other depositors and creditors shall be held to be bound by such contract or plan to the same extent and with the same effect as if they had joined in the execution thereof, and their claims shall be treated in all respects as if they had joined in the execution of said contract or plan, in event said bank is permitted to reopen for business as limited by said contract or plan; provided, nevertheless, all depositors and creditors of the same class shall be treated alike.
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(RSMo 1939 § 8005)