reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.075 - Issuance and sale of preferred stock shares — subject to director's approval.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.075. Issuance and sale of preferred stock shares — subject to director's approval. —
Notwithstanding any other provision of the laws of this state governing the organization, incorporation, management, and control of corporations, and more particularly the organization, incorporation, management, and control of banks, trust companies doing a banking business and other financial institutions organized, incorporated, and existing under the laws of this state and subject to the jurisdiction of, and controlled by, the finance director of the state of Missouri, the corporation may, with the consent of a majority of its stockholders, issue and sell its shares of preferred stock, of one or more classes, subject to the provisions of sections 362.075 to 362.100 and the approval of the finance director of the state of Missouri. Whenever the term
"corporation"
is used in sections 362.075 to 362.100, it shall be held to mean any bank or trust company doing a banking business in the state of Missouri.
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(RSMo 1939 § 8008, A.L. 1961 p. 463, A.L. 1967 p. 445)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.077 - Certain bank holding companies may not charter de novo bank or national bank, exceptions — purpose of law — severability clause.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 13 Jul 1999, see footnote
362.077. Certain bank holding companies may not charter de novo bank or national bank, exceptions — purpose of law — severability clause. —
1. Notwithstanding any provisions of law to the contrary, a bank holding company all of whose bank subsidiaries' operations were conducted in a state or states other than the state of Missouri as of January 1, 1995, may not charter de novo a bank or trust company under Missouri law or a national bank located in Missouri, and such bank holding company may not acquire any such bank or trust company or a national bank located in Missouri that has been in continuous existence for less than five years. Such limitation in the preceding sentence on such acquisition of a bank or trust company shall not apply to the creation and acquisition of an interim bank charter created to facilitate the acquisition of an existing bank or trust company through a merger, provided such existing bank or trust company meets the requirements of the preceding sentence, and provided such acquisition by merger is completed in two years. Such limitation shall also not apply to the relocation to Missouri of the main office of a bank chartered under the law of another state, or a national bank located in another state by the creation and acquisition of an interim bank charter, provided that either category of bank, prior to January 1, 1997, had its main office in Missouri and moved such office to a contiguous state, with a branch remaining in Missouri.
2. Any state bank, trust company or national bank, already in existence in another state, which is relocated to Missouri de novo shall calculate the age of its bank charter for Missouri purposes as of the date such charter is moved to Missouri, and may not engage in an interstate acquisition or merger with the result that such charter is merged or relocated to another state with Missouri branches of such charter remaining in Missouri, until such bank or trust company's charter is at least five years old.
3. The provisions of this section are enacted to implement a state option permitting bank charter age requirements under the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law 103-328 and to clarify such age requirements.
4. The provisions of this section are severable. In the event that a court of competent jurisdiction shall enter a decision finding any provision of this section unconstitutional or otherwise invalid and if such decision remains in force after all appeals therefrom have been exhausted, all remaining provisions of this section shall remain in full force and effect notwithstanding such decision and such decision shall not be given retroactive effect by any court.
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(L. 1995 H.B. 63, et al., A.L. 1997 H.B. 257, A.L. 1999 S.B. 386)
Effective 7-13-99
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.078 - Industrial loan companies and banks prohibited from maintaining facilities for banking purposes, definitions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2006
362.078. Industrial loan companies and banks prohibited from maintaining facilities for banking purposes, definitions. —
Notwithstanding any other provision of law to the contrary, an industrial loan company or industrial bank is prohibited from establishing or maintaining any deposit production office, loan production office, or one or more bank branches for the purpose of conducting any banking business within this state, whether by de novo charter, branching, or merger with another institution. As used in this section, the terms
"industrial loan company"
and
"industrial bank"
include any company chartered under the laws of any state that:
(1) Is insured or regulated by the Federal Deposit Insurance Corporation;
(2) Engages in one or more banking activities; and
(3) Is owned, directly or indirectly, by a commercial entity that is not a bank holding company or a financial holding company subject to regulation under the Federal Bank Holding Company Act of 1956.
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(L. 2006 S.B. 892)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.080 - Stockholders may authorize issuance and sale, when — manner.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.080. Stockholders may authorize issuance and sale, when — manner. —
The issuance and sale of its shares of preferred stock by any corporation to which sections 362.075 to 362.100 apply may be authorized at any annual meeting of its stockholders, or at any special meeting thereof called and held for that purpose. Notice of
*
the meeting shall be given as provided in section 362.044. The preferred shares so issued may be issued as part of the existing capital of the issuing corporation, or as an increase of its capital.
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(RSMo 1939 § 8009, A.L. 1967 p. 445)
*Word "any" appears here in original rolls.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.085 - Banks or trust companies may provide for issuance and sale in articles of incorporation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.085. Banks or trust companies may provide for issuance and sale in articles of incorporation. —
Any bank, trust company, or other financial institution hereafter organized and incorporated under the laws of the state of Missouri for the purpose of doing a banking business, subject to the control and supervision by the finance director of the state of Missouri, may in its articles of agreement for incorporation provide for the issuance and sale of its shares of preferred stock, subject to the provisions of sections 362.075 to 362.100.
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(RSMo 1939 § 8010)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.090 - Par value of preferred stock issued and offered for sale.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.090. Par value of preferred stock issued and offered for sale. —
No shares of preferred stock having a par value of less than twenty dollars nor more than one hundred dollars shall be issued by any corporation to which sections 362.075 to 362.100 apply; and no such shares shall be sold under authority of this law for less than one hundred cents on the dollar of the par value thereof net to the issuing corporation; and no such shares shall be valid until one hundred percent of the par value thereof in lawful money of the United States has been paid into the treasury of the issuing corporation.
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(RSMo 1939 § 8011)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.095 - Charter shall set forth terms and conditions governing call, redemption and retirement of shares.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.095. Charter shall set forth terms and conditions governing call, redemption and retirement of shares. —
The preferences and priorities, and the terms and conditions governing the call, redemption, and retirement, of each class of the preferred shares issued by any corporation under authority of sections 362.075 to 362.100 shall be clearly set forth in the amendment to its charter authorizing the issuance and sale of such preferred shares, in the case of all such corporations organized and existing prior to the effective date of said sections and in the articles of agreement for the incorporation of all such corporations hereafter organized and incorporated, all of which shall be approved by the finance director of the state of Missouri.
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(RSMo 1939 § 8012)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.100 - Penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.100. Penalty. —
Any person who shall, contrary to any of the provisions of law, knowingly aid, abet or participate directly or indirectly in issuing or selling or causing to be issued or sold any share or shares of stock in any bank or trust company shall be deemed guilty of a felony and upon conviction thereof shall be punished by imprisonment by the department of corrections and human resources for a term not exceeding five years or by confinement in the county jail for a term not exceeding six months or by a fine of not more than ten thousand dollars, or by both such fine and confinement.
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(RSMo 1939 § 8013, A.L. 1967 p. 445)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.109 - Restrictions on orders and ordinances of political subdivisions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2008, 2 histories
362.109. Restrictions on orders and ordinances of political subdivisions. —
Notwithstanding any law to the contrary, any order or ordinance by any political subdivision shall be consistent with and not more restrictive than state law and regulations governing lending or deposit-taking entities regulated by the division of finance or the division of credit unions.
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(L. 2001 H.B. 738 merged with S.B. 186, A.L. 2008 S.B. 788)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.110 - Federal Deposit Insurance Corporation subrogated to depositors' rights in closed state banks or trust companies.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.110. Federal Deposit Insurance Corporation subrogated to depositors' rights in closed state banks or trust companies. —
In order that banks and trust companies doing a banking business, organized under the laws of the state of Missouri and the depositors thereof may have the same opportunity and enjoy the benefits of the act of Congress known as "The Banking Act of 1933" in relation to the insurance of deposits and all amendments thereto, as national banks, the Federal Deposit Insurance Corporation shall, with like force and effect as if the closed bank or trust company were a national bank, be subrogated to all the rights against a closed bank or trust company of the owners of insured deposits therein and shall be entitled to receive such dividends from the proceeds of the assets of such closed bank or trust company as would have been payable to the depositors, until the dividends shall equal the insured deposit liability to the depositor; and the Federal Deposit Insurance Corporation may, if it shall deem it expedient or necessary so to do, present and procure the allowance of the claim or claims of any insured depositor or depositors, or may require insured depositors to make due proof of their claims or to assign their claims to the Federal Deposit Insurance Corporation, or to do any other act which may be deemed necessary or expedient to enable the Federal Deposit Insurance Corporation to fully avail itself of the above right to subrogation.
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(RSMo 1939 § 7949, A. 1949 H.B. 2085, A.L. 1967 p. 445)
Prior revisions: 1929 § 5354; 1919 § 11737
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.111 - Fees and service charges permitted, when, conditions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2017, 4 histories
362.111. Fees and service charges permitted, when, conditions. —
1. A bank or trust company may impose fees or service charges on deposit accounts; however, such fees or service charges are subject to such conditions or requirements that may be fixed by regulations pursuant to section 361.105 by the director of the division of finance and the state banking and savings and loan board. Notwithstanding any law to the contrary, no such condition or requirement shall be more restrictive than the fees or service charges on deposit accounts or similar accounts permitted any federally chartered depository institution and no contractual fee charged for overdrawing the balance of a deposit account shall be deemed interest.
2. A bank may impose a convenience fee for payments using an alternative payment channel that accepts a debit or credit card not present transaction, nonface-to-face payment, provided that:
(1) The person making the payment is notified of the convenience fee; and
(2) The fee is fixed or flat, except that the fee may vary based upon method of payment used.
3. An agreement to operate or share an automated teller machine shall not prohibit an owner or operator of the automated teller machine from imposing, on an individual who conducts a transaction using a foreign account, an access fee or surcharge that is not otherwise prohibited under federal or state law.
4. As used in this section, the following terms mean:
(1)
"Automated teller machine"
, any electronic device, wherever located, through which a consumer may initiate an electronic funds transfer or may order, instruct, or authorize a financial institution to debit or credit an account and includes any machine or device which may be used to carry out electronic banking business. "Automated teller machine" does not include point of sale terminals or telephones or personal computers operated by a consumer;
(2)
"Foreign account"
, an account with a financial institution located outside the United States.
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(L. 2003 H.B. 221 merged with S.B. 346, A.L. 2011 H.B. 83 merged with H.B. 464, A.L. 2015 S.B. 524, A.L. 2017 H.B. 292)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.112 - Bank or trust company may act as custodian, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2004
362.112. Bank or trust company may act as custodian, when. —
In addition to any other banking authority, a bank or trust company may act as a custodian for any entity, public or private, and place funds in any other financial institutions, provided such funds are placed in deposits and insured by the Federal Deposit Insurance Corporation.
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(L. 2004 S.B. 1093)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.116 - Trust accounts, originated by one bank or trust company, administration by another — requirements.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
362.116. Trust accounts, originated by one bank or trust company, administration by another — requirements. —
1. Any bank or trust company may, with the approval of the director of the division of finance, originate trust accounts which will be administered, pursuant to contract, by a bank or trust company having full fiduciary powers and located in this state. The bank or trust company originating such accounts shall be known as the originating trustee and the institution with which it contracts shall be referred to as the contracting trustee.
2. The application for authority to act as originating trustee shall designate the contracting trustee and shall be accompanied by a certified copy of the contract between the originating and contracting trustees.
3. The director of the division of finance shall approve any application by a bank or trust company seeking to act as originating trustee if he or she determines that the nature of the supervision to be given to the fiduciary activities, and the circumstances under which the agency relationship shall be terminated warrant belief that the customers will be protected. He or she shall issue a certificate approving the application and one certified copy shall be filed in the public records of the division of finance with the original certificate sent to the bank or trust company.
4. The originating trustee shall function as an agent of the contracting trustee, and such relationship shall be disclosed to the customers. The originating trustee may provide the administrative, advertising and safekeeping services incident to the trust business but the contracting trustee shall perform any and all fiduciary services in connection with trust relationships accepted under this section.
5. The contracting trustee shall assume any and all fiduciary liability the originating trustee may have or incur with no right of contribution or recovery from the originating trustee, except for liability resulting from negligence in the performance of duties actually performed by the originating trustee.
6. Any trust or estate administered under this section shall be subject to the provisions of sections 362.550 and 362.580.
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(L. 1983 S.B. 331 § 362.116, subsecs. 1 to 6, A.L. 1984 H.B. 1141, A.L. 2000 S.B. 896)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.117 - State bank may become trust company — procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2002
362.117. State bank may become trust company — procedure. —
1. Any bank may become a trust company with all the powers and subject to all the obligations and duties of trust companies organized under the provisions of this chapter.
2. A bank desiring to become a trust company shall proceed in the following manner:
(1) It shall call a meeting of its stockholders and shall give notice thereof as provided in section 362.044;
(2) At the meeting so called the stockholders of the bank may, by a vote of at least two-thirds of the entire capital stock issued, outstanding and entitled to vote, direct that the bank shall be transformed into a trust company. In the event that such action is taken by the prescribed vote, a resolution may be adopted fixing a future date certain upon which the state bank shall be transformed into a trust company and directing not less than five nor more than thirty of the stockholders of the bank, who shall be designated by name in the resolution, to proceed with the organization of the trust company;
(3) The designated stockholders shall proceed in all respects as is provided by law for other individuals in incorporating a trust company, except that the articles of agreement may provide that instead of the capital stock being paid up in lawful money the same may be paid up by an assignment of the assets of the state bank about to dissolve, the assignment to take effect at the aforesaid future date certain, and the director may allow the assignment to be accepted instead of cash, if the incorporators shall have certified in the articles of agreement that the net value of the assigned assets is equal to at least the full amount of the stock of the proposed trust company, and the director, as the result of an examination by himself, his deputies or his examiners, is satisfied that the assets are of such value, and except further that the stockholders may request in the resolution referred to in subdivision (2) of this subsection that the new charter contain the original incorporation date for such state bank to be dissolved and the director shall grant such request to be included in the new trust company public charter to be issued.
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(L. 1967 p. 445, A.L. 1989 H.B. 378, A.L. 1989 1st Ex. Sess. H.B. 4, A.L. 2002 S.B. 895)
(Source: RSMo 1959 § 363.140)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.118 - Trust company may become state bank — procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 02 Jan 1979, see footnote
362.118. Trust company may become state bank — procedure. —
1. Any trust company may become a state bank with all the powers and subject to all the obligations and duties of state banks organized under the provisions of this chapter.
2. A trust company desiring to become a state bank shall proceed in the following manner:
(1) It shall call a meeting of its stockholders and shall give notice thereof as provided in section 362.044.
(2) At the meeting so called the stockholders of the trust company may by a vote of at least two-thirds of its entire capital stock issued, outstanding and entitled to vote, direct that the trust company shall be transformed into a state bank. In the event that such action is taken by the prescribed vote, a resolution shall be adopted fixing a future date certain upon which the trust company shall be transformed into a state bank and directing that not less than five, and not more than thirty, of the stockholders of the trust company, who shall be designated by name in the resolution, proceed with the organization of the state bank.
(3) The designated stockholders shall proceed in all respects as provided by law for other individuals in incorporating state banks, except that the articles of agreement may provide that instead of the capital stock being paid up in lawful money the same may be paid up by an assignment of so much of the assets of the trust company about to dissolve as may be necessary to pay up the capital stock of the state bank, the assignment to take effect on the aforesaid future date certain, and the director may allow the assignment to be accepted instead of cash, if the incorporators shall have certified in the articles of agreement that the net value of the assigned assets is equal to at least the full amount of the capital stock of the proposed state bank, and the director, as the result of an examination by himself, his deputies, or his examiners, is satisfied that the assets are of such value.
(4) No such trust company shall be permitted to become a state bank unless it shall, on or prior to the future date certain named in the above mentioned resolution, have caused a successor trustee, or successor trustees, to be appointed by the circuit court having jurisdiction, and shall have made settlement with the successor trustee, or successor trustees, and the settlement has been approved by the circuit court in all trust matters which by the nature thereof may be turned over to the successor trustee, or successor trustees, and shall have given such security, or made such provision, for discharging all liabilities including all contingent and undisclosed liabilities, if any, of the trust company, as may be required by the state director of finance.
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(L. 1967 p. 445, A.L. 1978 H.B. 1634)
(Source: RSMo 1959 § 363.530)
Effective 1-02-79
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.119 - Investment in trust companies by bank, limitations — definitions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2001
362.119. Investment in trust companies by bank, limitations — definitions. —
Any bank organized pursuant to the laws of this state may invest not to exceed five percent of its capital, surplus and undivided profits in shares of stock in any new or existing trust company or companies or any new or existing holding company or companies controlling a trust company or companies, provided that such holding company is either a bank holding company or is a holding company with the sole purpose of owning a trust company, if the direct or indirect ownership of a majority of such stock or class of stock in such entity or entities is restricted to banks authorized to do business in the state of Missouri. For purposes of this section, the term
"ownership of a majority of such stock or class of stock"
does not mean or infer that such owner or owners have a controlling interest or voting interest in such trust company or companies, and the term
"entity"
means a trust company, bank holding company or a holding company that is not a bank holding company but that has the sole purpose of owning a trust company.
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(L. 1983 S.B. 331 § 362.116, subsec. 7, A.L. 1996 S.B. 494, A.L. 2000 S.B. 896, 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 362.120 - Capital notes may be issued and sold by banks and trust companies.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.120. Capital notes may be issued and sold by banks and trust companies. —
1. Any bank or trust company organized under the laws of this state may, through action of its board of directors and without requiring any action by stockholders, with the written consent of the finance director, issue and sell at not less than par its capital notes.
2. If, at the time of the issuance of such capital notes the capital of such bank or trust company is impaired, and there shall have been issued and sold capital notes of such bank or trust company in accordance with the provisions of sections 362.120 to 362.135, in an amount equal to or more than the impairment of the capital of such bank or trust company, as found by the director of finance, then the capital of such bank or trust company shall for all purposes be deemed to be restored and unimpaired.
3. Such capital notes may be sold for cash or, with the written consent and approval of the director of finance, for property and they shall be of a nature specified in, and conform to, the requirements of the several provisions of sections 362.120 to 362.135.
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(RSMo 1939 § 7906)
Prior revision: 1929 § 5312
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.130 - Extension of time for retirement of capital notes.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.130. Extension of time for retirement of capital notes. —
In any case where such capital notes to be issued as provided under the provisions of sections 362.120 to 362.135 are made retirable in a period less than twenty years after their authorization, the bank or trust company issuing such capital notes may, by a provision inserted therein to the effect, reserve the right from time to time to extend the time for the retirement of said capital notes and, in such event, the bank or trust company so issuing said capital notes may, by vote of a majority of its board of directors, with the consent of the finance director, make such extension.
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(RSMo 1939 § 7908)
Prior revision: 1929 § 5314
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.135 - Liquidation of assets — funds held in trust.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.135. Liquidation of assets — funds held in trust. —
1. Upon the assets of any bank or trust company issuing capital notes being set apart for the use and benefit of the holders of such capital notes, as provided in section 362.125, such bank or trust company shall proceed to collect and liquidate such assets and shall have full authority to sell or enter into any compromise concerning the same.
2. All amounts received or collected by such bank or trust company from the sale, collection or adjustment of such assets and/or from such rights of participation provided for in section 362.125 shall be deposited and kept by it in a separate fund and account, and all such amounts shall be held in trust for the use and benefit of the holders of such capital notes.
3. Whenever such funds so held in trust are equal to ten percent of the aggregate amount of the notes then outstanding, such bank or trust company shall distribute and pay such funds to the holders of such capital notes ratably; provided, however, that it shall not be required to make such distribution more often than once in sixty days.
4. In the event the director of finance shall take possession of the business and property of any bank or trust company which has issued any such capital notes, such assets may, upon the request in writing to the director of finance by the holders of the majority in amount of such capital notes, be sold to the highest bidder for cash, and the proceeds thereof shall be paid into the fund above provided for retirement of capital notes; provided, however, that, upon the retirement of such capital notes in full and accruals thereon, any of such assets then remaining undisposed of, or any surplus proceeds of any such sale, shall inure to the benefit of such bank or trust company.
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(RSMo 1939 § 7909)
Prior revision: 1929 § 5315
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.140 - Branch offices in foreign countries — how established — amount to be invested.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.140. Branch offices in foreign countries — how established — amount to be invested. —
Any bank or trust company possessing a capital and surplus of one million dollars or more may file application with the director, upon such conditions and under such regulations as may be prescribed by the director, for permission to exercise the following powers; provided, that any bank or trust company, without regard to the amount of its capital and surplus, may file an application for permission to exercise the powers specified in subdivision (2) below:
(1) To establish branches in foreign countries or dependencies or insular possessions of the United States for the furtherance of foreign commerce of the United States and to act, if required to do so, as fiscal agents of the United States;
(2) To invest an amount not exceeding in the aggregate ten percent of its paid-in capital stock and surplus in the stock of one or more banks or corporations chartered or incorporated under the laws of the United States, or of any state thereof, and principally engaged in international or foreign banking or banking in a dependency or insular possession of the United States, either directly or through the agency, ownership or control of local institutions in foreign countries or in the dependencies or insular possessions, including the stock of one or more banks or corporations chartered or incorporated under section 25a of the Federal Reserve Act as approved December 24, 1919.
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(RSMo 1939 § 7948, A.L. 1967 p. 445)
Prior revisions: 1929 § 5353; 1919 § 11736
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.145 - Content of application — director may approve or reject — examination of branches.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.145. Content of application — director may approve or reject — examination of branches. —
1. The application shall specify the name, capital and surplus of the bank or trust company filing it, the amount of capital and surplus set aside for the purpose and the powers applied for, together with the place or places where operations are to be carried on, if the application is for permission to establish a branch or branches, and the location of the chief office of the bank or banks, corporation or corporations, if the application is for permission to invest in the stock of any such bank or corporation.
2. The director shall have power to approve or reject the application, in whole or in part, if, for any reason, the granting of the application is deemed inexpedient, and shall also have the power from time to time to increase or decrease the number of places where the banking operations may be carried on.
3. Every bank or trust company organized hereunder operating foreign branches shall be required to furnish information concerning the condition of the branches to the director, upon demand, and the director may order a special examination of the branches at such time or times as he may deem best.
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(RSMo 1939 § 7948, A.L. 1967 p. 445)
Prior revisions: 1929 § 5353; 1919 § 11736
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.150 - Director may investigate branches — require banks to dispose of holdings.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.150. Director may investigate branches — require banks to dispose of holdings. —
If at any time the director shall ascertain that the regulations prescribed by him are not being complied with, the director may institute an investigation of the matter and
*
require such papers or records of any bank or trust company conducting branches or having investments in other banks or corporations as the director may deem necessary,
*
subpoena witnesses and administer oaths and require witnesses to give evidence concerning any transactions or facts relating to the conduct of the branches or the affairs of any bank or corporation in the stock of which an investment is made; and should the investigation result in establishing the failure of any bank or corporation in the stock of which an investment has been made or of the bank or trust company owning any such stock, or any branch thereof, to comply with the regulations of the director, the bank or trust company may be required to dispose of its stockholdings in the foreign bank or corporation, upon reasonable notice.
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(RSMo 1939 § 7948, A.L. 1967 p. 445)
Prior revisions: 1929 § 5353; 1919 § 11736
*Word "to" appears here in original rolls.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.155 - Accounts of branches to be kept separately.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1967
362.155. Accounts of branches to be kept separately. —
Each and every bank or trust company authorized hereunder shall conduct the accounts of each foreign branch independently of the accounts of other foreign branches established by it and of its home office and shall at the end of each year transfer to its general ledger the profit or loss accrued at each branch as a separate item.
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(RSMo 1939 § 7948, A.L. 1967 p. 445)
Prior revisions: 1929 § 5353; 1919 § 11736
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.160 - May purchase stock in corporations to develop and maintain market for foreign and domestic exchange.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.160. May purchase stock in corporations to develop and maintain market for foreign and domestic exchange. —
Every such corporation shall be authorized and empowered to subscribe for, purchase, hold, pledge and sell the stock of a corporation organized and existing under the laws of the state of Missouri, or under any act of Congress of the United States, for the purpose of developing and maintaining a stable and open market for foreign and domestic bills of exchange, notes, acceptances, and other evidences of debt originating in connection with foreign and domestic trade, by the purchase, investment in, and sale thereof, or for the purpose of engaging in international or foreign banking or other international or foreign financial operations, or in banking or other financial operations in a dependency or insular possessions of the United States, either directly or through the agency, ownership, or control of local institutions in foreign countries, or in such dependencies or insular possessions as provided by this section, and to act when required by the Secretary of the Treasury as fiscal agents of the United States; provided, that the investment of a bank in the stock of such a corporation shall not exceed ten percent of its capital and surplus.
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(RSMo 1939 § 7950)
Prior revisions: 1929 § 5355; 1919 § 11738
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.165 - Restrictions on taking and holding real estate.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2021, 2 histories
362.165. Restrictions on taking and holding real estate. —
1. All real estate, including any subsurface rights or interests therein, purchased by any bank or trust company or taken by it in its own right in settlement of debts due it shall be conveyed to it directly by name and the conveyance immediately recorded in the office of the proper recording officer of the county or city in which the real estate is located.
2. Such real estate, rights, or interests so purchased or acquired by any bank or trust company shall be sold by it within ten years of the date on which it shall have been acquired unless it shall be held or occupied in whole or in part by the bank or trust company under the authority of paragraph (c) of subdivision (10) of subsection 1 of section 362.105; provided, that if at any time a bank or trust company changes its location it may have ten years from the date of the change to sell the former location. The aggregate amount of earnings from such real estate, rights or interests shall be separately disclosed in reports of the bank or trust company.
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(RSMo 1939 § 7951, A.L. 1967 p. 445, A.L. 1983 S.B. 331, A.L. 1995 S.B. 178, A.L. 2021 S.B. 106)
Prior revisions: 1929 § 5356; 1919 § 11739
CROSS REFERENCE:
Conveyance of realty in blighted area to urban redevelopment corporation, 353.120
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.169 - Population defined for legal loan limit.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1998
362.169. Population defined for legal loan limit. —
For the purpose of determining the legal loan limit in section 362.170, the population of the community where the bank or trust company is located shall not include inmates of a correctional institution located in that community.
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(L. 1998 S.B. 792)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.171 - Bank officer making excessive loan — penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1969
362.171. Bank officer making excessive loan — penalty. —
Any officer, director, agent, clerk or employee of any bank or trust company who willfully and knowingly makes or concurs in making any loan, either directly or indirectly, to any individual, partnership or corporation or by means of letters of credit, by acceptance of drafts or by discount or purchase of notes, bills of exchange or other obligation of any person, partnership or corporation, in excess of the amounts set out in section 362.170, shall be deemed guilty of a felony and upon conviction shall be punished by imprisonment in the penitentiary for not less than two years nor more than ten years or by imprisonment in the county jail for not exceeding one year or by a fine not exceeding five hundred dollars, or by both such fine and imprisonment.
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(RSMo 1939 § 4510, A.L. 1969 H.B. 665)
Prior revision: 1929 § 4119
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.172 - Investment in stock of banks or bank holding companies — limitations.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2000
362.172. Investment in stock of banks or bank holding companies — limitations. —
Any bank organized under the laws of this state may invest not to exceed five percent of its capital, surplus and undivided profits in shares of stock in any new bank or banks, existing bank or banks, or bank holding companies if the ownership of a majority of such stock in such bank or bank holding companies is restricted to banks authorized to do business in the state of Missouri.
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(L. 1982 H.B. 1079 § 1, A.L. 1990 H.B. 1456, A.L. 2000 S.B. 896)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.173 - Investments in small business investment companies.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1959
362.173. Investments in small business investment companies. —
Every bank and every trust company organized under the laws of this state shall have power to and may, to the extent that national banks are permitted so to do by the laws of the United States, purchase shares of stock in small business investment companies incorporated under either the laws of this state or of the United States for the purpose of operating under the "Small Business Investment Act of 1958" (72 Stat. 689).
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(L. 1959 S.B. 48 § 1)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.175 - Obligations issued pursuant to the Farm Credit Act or United States Housing Act authorized as legal investments and as security for public deposits.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1983
362.175. Obligations issued pursuant to the Farm Credit Act or United States Housing Act authorized as legal investments and as security for public deposits. —
Trustees, conservators, curators, banks, trust companies, insurance companies, assurance, casualty, fidelity, and guaranty companies, and savings and loan associations may invest any funds held by them in notes, bonds, debentures or other similar obligations issued by the federal land banks, federal intermediate credit banks, or banks for cooperatives or any other obligations issued pursuant to the provisions of an act of the Congress of the United States known as the Farm Credit Act of 1971, and acts amendatory thereto, and bonds issued under the provisions of the act of Congress approved July 15, 1949, and known as "United States Housing Act of 1949", and the bonds shall be accepted as security for all public deposits and in all cases where bonds are required by law to be deposited with any department or public official of this state or any political subdivision thereof.
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(RSMo 1939 § 3310, A.L. 1967 p. 445, A.L. 1975 S.B. 257, A.L. 1983 S.B. 44 & 45)
Prior revision: 1929 § 2924
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.180 - Who may make Federal Housing Act loans.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1961
362.180. Who may make Federal Housing Act loans. —
Banking institutions, trust companies, insurance companies, and loan and investment companies may
(1) Make loans and advances of credit and purchases of obligations representing loans and advances of credit which are eligible for insurance pursuant to title I, section 2, of the National Housing Act, and obtain such insurance;
(2) Make loans secured by real property or leasehold interests which the Federal Housing Administrator insures or makes a commitment to insure pursuant to title II of the National Housing Act, and obtain such insurance.
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(RSMo 1939 § 8189, A.L. 1961 p. 463)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.185 - Financial institutions may invest securities under Federal Housing Act.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1961
362.185. Financial institutions may invest securities under Federal Housing Act. —
It is lawful for banking institutions, trust companies, insurance companies; and loan and investment companies to invest their funds and the moneys in their custody or possession in bonds or notes secured by deeds of trust or mortgages insured by the Federal Housing Administrator, or in debentures and bonds issued by the Federal Housing Administrator pursuant to title II of the National Housing Act, or in debentures and bonds issued by national mortgage associations.
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(RSMo 1939 § 8190, A.L. 1961 p. 463)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.190 - May be used as security.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.190. May be used as security. —
Bonds, notes, or debentures issued by the Federal Housing Administrator or insured by the United States government under title II of the National Housing Act may be eligible as security for all public deposits in depositaries, or by public officials, departments of state, or any political subdivision thereof, where bonds or deposits are required by law to be deposited.
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(RSMo 1939 § 8191)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.191 - State employee compensation deductions authorized for investment by office of administration.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 2004
362.191. State employee compensation deductions authorized for investment by office of administration. —
Notwithstanding any other provision of law, the commissioner of administration may, in the same manner as provided in section 33.103, deduct from any state employee's compensation warrant any amount authorized by the employee for the investments in deposits in any bank which is located in this state, or has a state charter, and is insured by an agency of the United States government.
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(L. 2004 H.B. 959)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 362 - Banks and Trust Companies › Section 362.195 - Applicability of sections 362.180 to 362.195.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 362
• Effective - 28 Aug 1939
362.195. Applicability of sections 362.180 to 362.195. —
No law of this state prescribing the nature, amount or form of security, or requiring security upon which loans or advances of credit may be made, or prescribing or limiting interest rates upon loans or advances of credit, or prescribing or limiting the period for which loans or advances of credit may be made, shall apply to loans, advances of credit, or purchases made pursuant to sections 362.180 to 362.195.
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(RSMo 1939 § 8192)