reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.162 - Irrevocable life insurance trusts — savings and loan associations may transfer fiduciary duty, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 2009
369.162. Irrevocable life insurance trusts — savings and loan associations may transfer fiduciary duty, when. —
In addition to any other banking authority, a savings and loan association or a savings bank with authorized trust authority and created under the laws of this state may transfer by assignment, for consideration or no consideration, some or all of its fiduciary obligations that consist only of irrevocable life insurance trusts in the same way as permitted a Missouri bank or trust company under section 362.333.
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(L. 2009 H.B. 239 merged with S.B. 277)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.164 - Attorney in fact, association may recognize, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1983
369.164. Attorney in fact, association may recognize, when. —
An association may continue to recognize the written authority of an attorney in fact to make any addition to and withdrawal from the account of an owner until it receives written notice of the death or adjudication of disability or incapacity of the owner, or of revocation of the attorney's authority. Any payment by the association to an attorney in fact prior to receipt of such notice shall be a complete discharge of the association as to the amount so paid.
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(L. 1971 S.B. 3 § 32, A.L. 1982 S.B. 464, A.L. 1983 S.B. 44 & 45)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.169 - Minors, association may treat as an adult, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1983
369.169. Minors, association may treat as an adult, when. —
An association may issue an account to a minor as the sole and absolute owner and receive payments, pay withdrawals, accept pledges and act in any other manner with respect to such account on the order of the minor with like effect as if he were of full age and legal capacity. Any payment to or on the order of a minor shall be a discharge of the association to the extent thereof. The account shall be held for the exclusive right and benefit of the minor free from the control of all persons, except creditors.
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(L. 1971 S.B. 3 § 33, A.L. 1983 H.B. 570)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.176 - State employee compensation deductions authorized for investment by office of administration.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 2004
369.176. State employee compensation deductions authorized for investment by office of administration. —
Notwithstanding any other provision of law, the commissioner of administration may, in the same manner as provided in section 33.103, deduct from any state employee's compensation warrant any amount authorized by the employee for the investments in deposits in any savings and loan association or savings 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 369 - Savings and Loan Associations › Section 369.179 - Accounts in trust, how handled.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1983
369.179. Accounts in trust, how handled. —
1. An account owner who holds a certificate for an account indicating that such holder is trustee for a beneficiary or beneficiaries shall have the right to vote as a member if such account is in a mutual association as if such membership certificate were held absolutely, but shall not have the right to hold office by virtue of such holding.
2. The withdrawal or redemption value of an account so held in any association, and earnings thereon, may be paid in whole or in part to such account owner, without regard to any notice to the contrary so long as such account owner is living; and such payment shall be a valid and sufficient release and discharge of the association, to the extent of such payment.
3. If such account owner dies, the association after thirty days from the date of death may treat as owner of the account, and may pay the withdrawal value thereof and dividends thereon to, the apparent or presumed beneficiary or beneficiaries, whether minor or adult, unless the association has acknowledged receipt at its home office of, or has been served there by an officer empowered to make service of process with, a written notice of a claim to the contrary; and the receipt or acquittance of such payee or payees shall be, to the extent of such payment, a valid and sufficient release and discharge of the association.
4. This section, except the first sentence:
(1) Shall not be applicable to an account in the name of a personal representative, conservator, curator or fiduciary appointed by or acting under supervision of a court of record, and known by the association to be held in such capacity;
(2) Shall not apply contrary to the terms, conditions or beneficial interests of any express trust to which the account is subject and of which the association has notice; and
(3) Is enacted for the protection of the association and is not determinative of the rights of persons interested in such account as between themselves.
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(L. 1971 S.B. 3 § 35, A.L. 1982 S.B. 464, A.L. 1983 S.B. 44 & 45)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.184 - Fiduciary accounts, how handled.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1983
369.184. Fiduciary accounts, how handled. —
1. An association may accept accounts in the name of any personal representative, custodian, conservator or other fiduciary for a named beneficiary or beneficiaries, and any such fiduciary may open and make additions to, and may withdraw from any such account. Any payment to the fiduciary shall be a release and discharge of the association for the payment so made without regard to any notice the association may have received concerning the status or capacity of the fiduciary.
2. If any fiduciary named in this section opens an account with an association in his own name not followed by the designation of his fiduciary capacity, the association shall treat such an account as the individually owned account of that person regardless of any notice to the contrary.
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(L. 1971 S.B. 3 § 36, A.L. 1982 S.B. 464, A.L. 1983 S.B. 44 & 45)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.186 - Accounts payable to second named person upon death of first named person, how handled.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1983
369.186. Accounts payable to second named person upon death of first named person, how handled. —
1. An association may contract for an account in the following form: "John Doe, pay on death to Henry Roe." Such account shall, during the lifetime of the person first named in the account, be the property of and under the sole control of the person first named; and the first named person shall be entitled to cancel, change, give away, or otherwise deal with the account as if no other person were
*
named in the account.
2. At the death of the first named person, the account shall become the property of the person named as the "pay on death" person. The association is authorized to require proof of death and surrender of the evidence of account prior to withdrawal after the death of the first named person.
3. The association may make such other contractual terms as the parties may agree to with respect to the account.
4. Any payment made by an association 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 association shall have been served with process restricting payment on the account in accordance with the terms of such process.
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(L. 1983 H.B. 570 § 369.185)
*Word "was" appears in original rolls.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.189 - Deposits, form, terms and conditions, regulation of — director, imposition of restrictions and powers on associations, how.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.189. Deposits, form, terms and conditions, regulation of — director, imposition of restrictions and powers on associations, how. —
1. An association may accept deposits in any form not prohibited by sections 369.010 to 369.369.
2. Deposits authorized by this section shall be upon any terms and conditions not prohibited by sections 369.010 to 369.369. Owners of deposits shall be creditors of the association. After April 30, 1982, all accounts in all associations are deposit accounts.
3. The director of the division of finance is authorized under such rules and regulations as the director may prescribe to impose or grant the same restrictions, limitations, prohibitions, conditions, requirements, duties, liabilities, provisions, authorities, powers, rights, options and discretions concerning deposit associations as are from time to time applicable to federal associations under the laws, rules, regulations, orders and decisions applicable to such federal associations.
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(L. 1971 S.B. 3 § 37, A.L. 1982 S.B. 464, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.191 - Association may own or control safety vault.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.191. Association may own or control safety vault. —
Every savings and loan association or savings association subject to the provisions of this chapter may for a fee or other consideration receive upon deposit for safekeeping personal property of every description, and own or control a safety vault and rent the boxes therein. For purposes of sections 369.191 to 369.212, the term
"association"
means any savings and loan association or savings association subject to the provisions of this chapter.
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(L. 1994 H.B. 1165 § 1)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.194 - Accounts declared legal investments for fiduciaries.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.194. Accounts declared legal investments for fiduciaries. —
1. Accounts in insured associations are legal and proper investments or depositaries for fiduciaries of every kind and nature, all political subdivisions or instrumentalities of this state, insurance companies, business and nonprofit corporations, charitable or educational corporations or associations, all financial institutions of every kind and character, all pension, endowment and scholarship funds both public and private, and each and all of them may invest funds in accounts in such associations. The director of the division of finance shall by regulation permit associations to pledge funds or assets in connection with the investment of public funds in accounts of associations, and may provide that accounts in associations shall be legal investments for any persons, firms, corporations or entities not herein specifically referred to. Notwithstanding anything to the contrary, accounts prohibited to a mutual association are prohibited to a capital stock association.
2. Notwithstanding any restrictions or limitations contained in any other law of this state, accounts in any association may be accepted by any agency, department or official of the state of Missouri in any case wherein such agency, department or official acting in its or the person's official capacity requires that securities be deposited with such agency, department or official.
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(L. 1971 S.B. 3 § 38, A.L. 1982 S.B. 464, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.204 - Earnings of accounts, how determined and distributed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.204. Earnings of accounts, how determined and distributed. —
Earnings, methods of calculating earnings and rate of earnings, including contractually fixed rates, and the minimum amount upon which earnings shall be paid shall be determined by the board of directors, and earnings shall be distributed on savings accounts at such times and in such manner and on such terms as may be prescribed by regulations of the director of the division of finance. The director's regulations may permit the determination and declaration of rates of earnings during the month preceding the beginning of the period to which the rates are to apply, may provide for a determination date for computing earnings, and may authorize distribution of earnings on withdrawals between earning distribution dates. He may provide that an association may calculate, determine, and pay earnings upon any basis available to a federal association.
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(L. 1971 S.B. 3 § 40, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.209 - Withdrawal, how, when — failure to pay withdrawal applications, powers of director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.209. Withdrawal, how, when — failure to pay withdrawal applications, powers of director. —
1. Except for accounts which provide for a specified contractual time or notice or are subject to a pledge, and, subject to the right of the association to require advance notice of withdrawal, an account owner at any time may present a written application for withdrawal of all or any part of the account owner's account. The association may by resolution of the board of directors require advance notice of not more than thirty days of an intent to file an application for withdrawal. Every application shall request immediate withdrawal of the stated amount and no account owner shall have on file more than one application. Any account owner may cancel the account owner's application by written notice. Every association either shall pay or shall number, date and file in the order of actual receipt every withdrawal application. Withdrawals shall be made in the order of actual receipt of applications except as provided in this section or by regulation of the director of the division of finance. Upon withdrawal, an association shall pay the withdrawal value of the account.
2. The director of the division of finance may by regulation establish the rules and procedures to apply in the event the association is unable to pay all applications for withdrawal as made including a rotation plan or any other plan for the equitable payment of withdrawals, the payment in full of accounts less than a named amount, the application of receipts to withdrawals, and the circumstances and conditions under which the failure of the association to pay withdrawals as applied for shall be deemed the conduct of its business in an unsafe or injurious manner within the meaning of section 369.339.
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(L. 1971 S.B. 3 § 41, A.L. 1982 S.B. 464, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.211 - Joint renters of safe deposit box — survivor's rights.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.211. Joint renters of safe deposit box — survivor's rights. —
Any association doing a safe deposit business may enter into a lease under which a safe deposit box is rented in the names of two or more persons, whether residents or nonresidents of this state, as joint renters. 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 association 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.
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(L. 1994 H.B. 1165 § 3)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.212 - Death of all lessees of safe deposit box, duties of association.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.212. Death of all lessees of safe deposit box, duties of association. —
1. In the event the sole lessee or all lessees as joint renters named in the lease agreement covering a safe deposit box rental shall die, the association by contract may accept the following additional 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 association, one of whom shall be an officer of the association; and such employees may remove all instruments of a testamentary nature and deposit the same with the probate divisions 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 association 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 association 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 association may open the box by forcible entry and remove the contents and dispose of the same in accordance with the procedures specified in section 369.211.
2. Upon the death of any lessee of a safe deposit box and upon request of the probate division of the circuit court, the association 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. 1994 H.B. 1165 § 4)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.214 - Redemption of accounts, how and when, effect of.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.214. Redemption of accounts, how and when, effect of. —
1. An association may redeem, by lot or otherwise as the board of directors may determine, subject to approval of the director of the division of finance, all or any part of its accounts on an earnings payment date by giving thirty days' notice by registered mail to each owner of an account to be redeemed at the owner's last address as shown on the books of the association, but the association may not do so when it is in an impaired condition or has applications for withdrawal on file unpaid. The redemption price of each account redeemed shall be its withdrawal value.
2. Earnings and all rights of the owner of any account called for redemption, except the right to receive the redemption price, cease after the date fixed for redemption if the notice of intended redemption is given as required by this section and if funds are available for the redemption on such date.
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(L. 1971 S.B. 3 § 42, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.224 - Association to maintain liquid assets — minimum percentage, how set.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.224. Association to maintain liquid assets — minimum percentage, how set. —
Every association is required to maintain liquid assets in an amount not less than a minimum percentage established by the director of the division of finance.
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(L. 1971 S.B. 3 § 44, A.L. 1983 H.B. 570, A.L. 1989 S.B. 40, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.229 - Approved transactions and loans.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 01 Mar 2011, 2 histories, see footnote
369.229. Approved transactions and loans. —
1. Every association may:
(1) Make loans secured by its accounts to the extent of the withdrawal value thereof and unsecured loans to any account owner but not exceeding such amount individually or in the aggregate as may be established by the director of the division of finance by regulation;
(2) Make loans of any type or kind, approved by the director of the division of finance, secured by mortgage or deed of trust constituting a first lien on real estate as defined in section 442.010, or a leasehold interest therein and having an unexpired term of at least five years or some term in excess of five years as may be fixed by regulation of the director of the division of finance;
(3) Make additional real estate loans secured by liens immediately subsequent to its own first lien upon the same property and with or without additional security;
(4) Purchase real estate loans of the same character as that upon which the association may make an original loan and lend money on the security of such loans;
(5) Participate in loans with other lenders on real estate of any type that the association could originate;
(6) Sell with or without recourse any real estate loan it holds or any participating interest therein.
2. Every association may, subject to such regulations as the director of the division of finance may prescribe:
(1) Make loans secured by the cash surrender value of any life insurance or annuity policy;
(2) Make loans for the purpose of repair, improvement, rehabilitation, furnishing or equipping real estate as defined in section 442.010;
(3) Make loans, and purchase obligations representing loans, for the purpose of mobile home financing, including development, holding and leasing of mobile home parks or sites, provided that, for purposes of this section mobile home includes a manufactured home as defined in section 700.010;
(4) Make loans for the payment of educational expenses;
(5) Make loans to homeowners with or without security for any purpose, but the aggregate of the unpaid balances of all such loans to any one borrower shall not exceed at any time the sum of five thousand dollars or such greater sum as the director of the division of finance may allow by regulation;
(6) Make loans to its directors, officers, and employees; and
(7) Make such other loans secured or unsecured as the director of the division of finance by regulation may permit.
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(L. 1971 S.B. 3 § 45, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165, A.L. 2010 S.B. 630)
Effective 3-01-11
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.234 - Preference given association holding first lien.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.234. Preference given association holding first lien. —
An association may:
(1) Make without limitation any advances necessary to protect the security of any loan or the priority of lien thereon which shall stand secured by such first lien irrespective of intervening liens;
(2) If it holds a recorded first lien on the property, make an additional loan or loans not exceeding in the aggregate the amount fixed from time to time by the director of the division of finance, which shall be secured by such first lien, for the improvement, equipment or furnishing of such property; and
(3) Make any further advances or loans for any purpose to the extent authorized by the deed of trust evidencing the first lien on the property.
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(L. 1971 S.B. 3 § 46, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.239 - Association may accept pledge of borrower's account or other additional collateral.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1983
369.239. Association may accept pledge of borrower's account or other additional collateral. —
As additional collateral security for a loan, an association may accept the assignment or pledge of the account or accounts of the borrower or of any other account owner, or additional collateral of any kind.
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(L. 1971 S.B. 3 § 47, A.L. 1983 H.B. 570)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.244 - Association may purchase, convey or manage property in which it has a security interest — time limitation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.244. Association may purchase, convey or manage property in which it has a security interest — time limitation. —
1. An association may purchase at any sale, public or private, any real or personal property upon which it has a mortgage, judgment, deed of trust, pledge, lien or other encumbrance or in which it has any interest, and it may acquire any real or personal property which may be conveyed or transferred to it in full or in partial satisfaction, discharge or release of loans for which such property is security.
2. An association may sell, convey, lease, exchange, improve, repair, mortgage, convey in trust, pledge or encumber any real or personal property purchased or acquired by it as authorized by subsection 1 of this section.
3. An association may invest its funds, operate a business, manage or deal in property, or take any other action over whatever period of time may reasonably be necessary to avoid loss on a loan or investment previously made or an obligation previously created in good faith. Said property is not to be held by the association for a period in excess of six years, unless specifically authorized by the director of the division of finance.
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(L. 1971 S.B. 3 § 48, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.249 - Director may regulate lending practices.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.249. Director may regulate lending practices. —
The director of the division of finance may from time to time establish such rules and regulations in respect to loans as may be reasonably necessary to assure that such loans are in keeping with sound lending practices and promote the purposes of sections 369.010 to 369.369, and the director may include therein provisions concerning appraisals, payments and terms of security instruments. Any note or security instrument may provide for advances for taxes, insurance premiums and other charges, which may be commingled with other funds of the association, and the extent, if any, to which interest is to be paid thereon.
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(L. 1971 S.B. 3 § 49, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.254 - Association may invest in real property and mobile homes, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.254. Association may invest in real property and mobile homes, when. —
An association may:
(1) Invest in such real property as the directors may deem necessary or convenient for the conduct of the business of the association; and
(2) Invest in the acquisition of unimproved real estate lots, and other unimproved real estate for the purpose of prompt development and subdivision, principally for construction of housing or for resale to others for such construction, or for use as mobile home sites; and development and subdivision of, and construction of, improvements, including improvements to be used for commercial or community purposes, when incidental to a housing project, for sale or for rental on real estate referred to in this subdivision; and acquisition of improved residential real estate and mobile homes to be held for rental; and acquisition of improved residential real estate for remodeling, rehabilitation, modernization, renovation, or demolition and rebuilding for sale or for rental; and maintenance and management of rental real estate referred to in this subdivision. Investments for land development shall be made only within this state, or outside this state within one hundred miles of the home office of the association; provided, that any association licensed, qualified, admitted to do business as a savings association, and so conducting a savings association business in another state or states, may invest its funds for the purposes provided for in this section in this state, or outside this state within one hundred miles of the home office of the association, or within such state or states in which it is licensed, qualified, admitted to do business as a savings association and is so conducting a savings association business. The amount so invested shall not exceed the sum of the reserves and undivided profits of the association, or ten percent of its total assets, whichever is the lesser, and the maximum percentage of the amount so invested in nonresidential property shall be in accordance with regulations promulgated by the director of the division of finance. If the director of the division of finance finds that an association has abused or is abusing the powers granted in this section, the director may deny or condition the exercise of such powers until the abuse is corrected.
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(L. 1971 S.B. 3 § 50, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.259 - Unapproved transfer of encumbered property, effect of.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1971
369.259. Unapproved transfer of encumbered property, effect of. —
In the event of a conveyance or transfer of any property upon which an association has a lien without the consent of the association, the association may proceed as provided in the note or security instrument.
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(L. 1971 S.B. 3 § 51)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.264 - Lending association not liable to borrower or others for defective final product, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1971
369.264. Lending association not liable to borrower or others for defective final product, when. —
An association which makes a loan, the proceeds of which are used or may be used by the borrower to finance the design, manufacture, construction, repair, modification or improvement of real or personal property for sale or lease to others, shall not be held liable to the borrower or to third persons for any loss or damage occasioned by any defect in the real or personal property so designed, manufactured, constructed, repaired, modified or improved, or for any loss or damage resulting from the failure of the borrower to use due care in the design, manufacture, construction, repair, modification or improvement of such real or personal property, unless the association has knowingly been a party to misrepresentations with respect to such real or personal property.
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(L. 1971 S.B. 3 § 52)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.279 - Examiners, appointment, duties — attorney authorized.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.279. Examiners, appointment, duties — attorney authorized. —
The director of the division of finance shall appoint such examiners and other employees as the director shall deem necessary to properly discharge the duties of the office. They shall devote all of their time to such official duties and hold office at the pleasure of the director. The director may appoint an attorney for the division of finance to serve at the pleasure of the director and the attorney shall devote full time to the work of the division.
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(L. 1971 S.B. 3 § 55, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.294 - Certain interest in an association by director and examiners prohibited — information to be confidential, exceptions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 2011
369.294. Certain interest in an association by director and examiners prohibited — information to be confidential, exceptions. —
1. The director of the division of finance and examiners shall not be interested in an association directly or indirectly either as creditor (except that each may be an account holder and receive earnings thereon), director, officer, employee, trustee, attorney or borrower (except for a loan on the home property owned and occupied by the director or examiner or a share loan), nor shall any one of them receive directly or indirectly any payment, compensation or gratuity from any association.
2. The director, the examiners and all employees of the division of finance and members of the board shall not divulge any information acquired in the discharge of their duties except insofar as required by law or order of court. The director may, however, furnish information to the Office of Thrift Supervision or any successor thereto, the Federal Deposit Insurance Corporation or any successor thereto, any federal home loan bank or savings departments of other states.
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(L. 1971 S.B. 3 § 58, A.L. 1982 S.B. 464, A.L. 1994 H.B. 1165, A.L. 2011 H.B. 464)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.299 - Powers and duties of director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 2011
369.299. Powers and duties of director. —
The director of the division of finance shall:
(1) Exercise all rights, powers and duties set forth in sections 369.010 to 369.369 or as may be otherwise provided by law;
(2) Establish, amend, supplement and revoke, subject to the approval of the board, all regulations authorized by the provisions of sections 369.010 to 369.369 and such additional regulations as may be reasonable or necessary to provide for the organization, incorporation, examination, operation, and regulation of associations, and service corporations, and the director may by regulation provide that an association shall have all powers, rights, and privileges which it would have from time to time if organized and operating in Missouri as a federal association under the laws of the United States. The director shall deliver by mail to each association a copy of any proposed regulation or change in an existing regulation. If five or more associations protest the proposed regulation or change and request a hearing thereon within fifteen days thereafter, the director shall conduct a hearing before acting thereon;
(3) Direct and supervise all the activities of the office;
(4) Exercise general supervision over all associations and all corporations which are owned in whole or in part by an association or associations;
(5) Upon request of the governor make a report in writing to the governor on or before the first day of March as to the financial condition as of December thirty-first of the preceding year of each association;
(6) Have charge of the execution of laws relating to savings associations with authority to sue in the director's name to enforce any law of this state applying to an association or to a corporation in which an association has an interest, or applying to the officers, directors or employees of any association.
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(L. 1971 S.B. 3 § 59, A.L. 1994 H.B. 1165, A.L. 2011 H.B. 464)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.301 - Rulemaking, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 1995
369.301. Rulemaking, procedure. —
Rules promulgated under the authority of this chapter shall be promulgated pursuant to the provisions of chapter 536. No rule or portion of a rule promulgated under the authority of this chapter shall become effective unless it has been promulgated pursuant to the provisions of section 536.024.
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(L. 1994 H.B. 1165, A.L. 1995 S.B. 3)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.314 - Powers and duties of board.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 2011
369.314. Powers and duties of board. —
The board shall:
(1) Approve or disapprove each regulation proposed by the director of the division of finance pertaining to savings and loan associations; and
(2) Hear and determine any appeal permitted by law, including but not limited to an order or decision of the director pertaining to the incorporation, relocation or branching of savings and loan associations, which shall be conducted as provided in chapter 361.
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(L. 1971 S.B. 3 § 62, A.L. 1994 H.B. 1165, A.L. 2011 H.B. 464)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.329 - Branch offices and agencies, approval required, exceptions — application for approval, contents — approval, when — hearing, procedures.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 28 Aug 2011
369.329. Branch offices and agencies, approval required, exceptions — application for approval, contents — approval, when — hearing, procedures. —
No association may establish or maintain a branch office or agency without the prior written approval of the director of the division of finance, except that temporary and incidental agencies may be created for individual transactions and for special temporary purposes without such approval. Each application for approval of the establishment and maintenance of a branch office or one or more agencies shall state the proposed location of the branch office or agency, the functions to be performed at the office or agency, the estimated volume of business at the branch office or agency, the estimated annual expense of the branch office or agency and the mode of payments for the branch office or agency and such additional matters as the director of the division of finance by regulation may require. Each such application shall be accompanied by a budget of the association for the current earnings period and for the next succeeding semiannual period, which reflects the estimated additional expense of the maintenance of each such branch office or agency. No branch application shall be granted if, in the opinion of the director or a majority of the members of the board on appeal, the policies, condition or operation of the applicant afford a basis for supervisory objection to the application. The director of the division of finance may hold a hearing at the director's discretion on the application in accordance with such procedures as the director by regulation may require.
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(L. 1971 S.B. 3 § 65, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165, A.L. 2011 H.B. 464)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.334 - Reports may be required — examiners to have access to records.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.334. Reports may be required — examiners to have access to records. —
1. Each association shall make such reports, verified if required, in such form as the director of the division of finance may from time to time require.
2. Each association shall be examined periodically, and may be examined at any time, by the director, with appraisals when deemed advisable. The director may require an audit of any association at any time, such audit to be made by the director or by certified public accountants, with appraisals if deemed advisable. Any such audit, if not made by the director, shall be filed promptly with the director. In any instance in which an appraisal is required, it shall be made by an appraiser selected by the director and the cost thereof shall be paid by the association directly to the appraiser upon receipt of a statement of the cost approved by the director. A copy of the report of each appraisal shall be furnished to the association within a reasonable time following the completion thereof, not to exceed ninety days.
3. The representative of the director making an examination or audit shall have access to all books and papers of the association or of any corporation in which the association owns any capital stock, shall have power to administer oaths, take all testimony by such person deemed necessary and proper, and may compel the attendance of witnesses and the production of books and papers by order of the courts of this state.
4. The director may accept, in lieu of any examination required by sections 369.010 to 369.369 or of any audit required or permitted under sections 369.010 to 369.369 or in lieu of any appraisal permitted under sections 369.010 to 369.369, any report, audit or appraisal required or made by or for the Federal Deposit Insurance Corporation or any successor thereto, the Office of Thrift Supervision or any successor thereto or a Federal Home Loan Bank.
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(L. 1971 S.B. 3 § 66, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.338 - Cease and desist orders, period of supervision, when, procedure, duties of association — costs, how fixed and paid.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.338. Cease and desist orders, period of supervision, when, procedure, duties of association — costs, how fixed and paid. —
If, in connection with any cease and desist order issued pursuant to this chapter, the director of the division of finance requests the consent of the board of directors of the association to the placing of the association under supervisory control of the director, and a majority of such board affirmatively consents to such request, the director may appoint an examiner, deputy director, attorney or other employee of the division to supervise or monitor the operation of the association during the period of supervision to which consent has been given. During the period of supervision, the association, its directors, and officers shall act in accordance with such instructions and directions as may be given by the director through the director's supervisory agent and shall not act or fail to act except in compliance with such cease and desist order without the prior approval of such supervisory agent or the director. No director, officer, or employee shall incur any liability of any kind or to any person for so acting or for so failing to act. Costs incident to such supervision shall be fixed by the director and paid by the association pursuant to this chapter.
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(L. 1983 H.B. 570, A.L. 1994 H.B. 1165)
Effective 7-06-94
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 369 - Savings and Loan Associations › Section 369.354 - Federal Deposit Insurance Corporation may act as receiver or liquidator without bond.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369
• Effective - 06 Jul 1994, see footnote
369.354. Federal Deposit Insurance Corporation may act as receiver or liquidator without bond. —
1. The Federal Deposit Insurance Corporation or any successor thereto may act without bond as sole or joint receiver or liquidator of any insured association which has been taken over pursuant to the provisions of sections 369.010 to 369.369.
2. The director of the division of finance in the event of the taking over of any insured association may tender to the Federal Deposit Insurance Corporation or any successor thereto the appointment as sole receiver or liquidator thereof or as coreceiver or coliquidator jointly with the director.
3. If the Federal Deposit Insurance Corporation or any successor thereto accepts the appointment mentioned in subsection 2, it shall equally have and possess all of the powers and privileges provided by the laws of this state with respect to the director upon the director's taking possession of an association and shall be subject to all the duties of the director. The corporation may make loans on the security of or may bid for purchase at public or private sale or at any custodian's, receiver's or liquidator's sale, or may liquidate or sell any part of the assets of the association of which it is the sole or joint receiver or liquidator. If the corporation purchases any such assets, it shall bid and pay a fair and reasonable price.
4. Whenever the Federal Deposit Insurance Corporation or any successor thereto pays or makes provision for payment of the liabilities of any insured association, it is subrogated, upon the surrender and transfer to it of any account insured by it, to all rights of the holder with respect to such account. The surrender and transfer of the account does not affect any right which the transferor thereof may have in any portion of the account which is uninsured or any right to participate in the distribution of the net proceeds remaining from the distribution of the assets of the insured association. The rights of the investors in and creditors of the insured association shall be determined in accordance with the laws of this state.
5. If such corporation is appointed sole receiver, the director, upon the director's application, shall be made a party to the proceedings and be heard on any material matter.
6. No compensation shall be allowed such corporation or its officers, agents, counsel or employees in connection with such receivership.
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(L. 1971 S.B. 3 § 70, A.L. 1982 S.B. 464, A.L. 1983 H.B. 570, A.L. 1984 S.B. 670 Revision, A.L. 1994 H.B. 1165)
Effective 7-06-94