Missouri Revised Statutes

Chapter 362
Banks and Trust Companies

(View Entire Chapter)

August 28, 2013
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Sections:
362.010. Definitions.
362.011. Trust business not engaged in, when--prohibition on use of words
"trust company", when.
362.015. No private banks shall be established--who may incorporate--when.
362.020. Articles of agreement--contents.
362.023. Trust company may refuse demand deposits by its articles of
incorporation, effect of.
362.025. Articles of agreement to be filed.
362.030. Director to examine as to character and capital.
362.035. Certificate of incorporation--issuance--to be filed.
362.040. Notice of refusal of certificate--appeal.
362.042. Restated articles of incorporation may be amended at time of
restatement, manner.
362.044. Stockholders' meetings--notice--business by proxy, cancellation of
meetings.
362.046. Bylaws, who may make, amend or repeal.
362.048. Emergency bylaws--when.
362.050. Cash capital required.
362.055. Capital stock--par value.
362.060. Change of par value--notice of meeting--when change
effective--director to issue certificate.
362.063. Power to close transfer books.
362.067. Stock option plan for officers and employees--increase in
shares--consideration.
362.070. Compensation for organizing bank or trust company prohibited--penalty.
362.073. Certain stock transfers or voting control changes must be
reported to director of finance.
362.075. Issuance and sale of preferred stock shares--subject to
director's approval.
362.077. Certain bank holding companies may not charter de novo bank or
national bank, exceptions--purpose of law--severability clause.
362.078. Industrial loan companies and banks prohibited from maintaining
facilities for banking purposes, definitions.
362.080. Stockholders may authorize issuance and sale, when--manner.
362.085. Banks or trust companies may provide for issuance and sale in
articles of incorporation.
362.090. Par value of preferred stock issued and offered for sale.
362.095. Charter shall set forth terms and conditions governing call,
redemption and retirement of shares.
362.100. Penalty.
362.105. Powers and authority of banks and trust companies.
362.106. Additional powers.
362.107. Branch banking allowed, requirements--director of finance to
approve, appeals.
362.109. Restrictions on orders and ordinances of political subdivisions.
362.110. Federal Deposit Insurance Corporation subrogated to depositors'
rights in closed state banks or trust companies.
362.111. Fees and service charges permitted, when, conditions.
362.112. Bank or trust company may act as custodian, when.
362.115. Bank may exercise powers of trust
companies--application--examination--certificate--trust
department.
362.116. Trust accounts, originated by one bank or trust company,
administration by another--requirements.
362.117. State bank may become trust company--procedure.
362.118. Trust company may become state bank--procedure.
362.119. Investment in trust companies by bank, limitations--definitions.
362.120. Capital notes may be issued and sold by banks and trust companies.
362.125. Capital notes--denominations--rate of interest--maturity--impairment
of capital--certain obligations to be prior claim.
362.130. Extension of time for retirement of capital notes.
362.135. Liquidation of assets--funds held in trust.
362.140. Branch offices in foreign countries--how established--amount to be
invested.
362.145. Content of application--director may approve or reject--examination
of branches.
362.150. Director may investigate branches--require banks to dispose of
holdings.
362.155. Accounts of branches to be kept separately.
362.160. May purchase stock in corporations to develop and maintain market
for foreign and domestic exchange.
362.165. Restrictions on taking and holding real estate.
362.169. Population defined for legal loan limit.
362.170. Unimpaired capital, defined--restrictions on loans, and total
liability to any one person.
362.171. Bank officer making excessive loan--penalty.
362.172. Investment in stock of banks or bank holding companies--limitations.
362.173. Investments in small business investment companies.
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.
362.180. Who may make Federal Housing Act loans.
362.185. Financial institutions may invest securities under Federal Housing
Act.
362.190. May be used as security.
362.191. State employee compensation deductions authorized for investment
by office of administration.
362.195. Applicability of sections 362.180 to 362.195.
362.197. Capital contributions and investments in obligations of Federal
National Mortgage Association.
362.200. Money not to be employed in trade or commerce.
362.205. Account books, requirements--property, how carried.
362.207. Securities held in name of nominee.
362.210. (Repealed L. 2005 H.B. 707 A)
362.213. (Repealed L. 2005 H.B. 707 A)
362.215. (Repealed L. 2005 H.B. 707 A)
362.217. (Repealed L. 2005 H.B. 707 A)
362.220. Agreements to pay time deposit before maturity prohibited--penalty.
362.222. Checks to be paid at par--exceptions--penalty.
362.225. Reserve depositaries.
362.230. No new loans until depleted reserves are restored.
362.231. Reserve requirements, federal regulation to take precedence, when.
362.235. National bank may become state bank or trust company--procedure,
effect.
362.240. Change from state to national bank.
362.245. Board of directors, qualifications--cumulative voting in electing
director permitted when.
362.247. Board, quorum--directors not physically present, counted when.
362.250. Oath of directors to be subscribed and certified--to be filed by
director--penalty.
362.253. Two or more directors to constitute an executive committee--when.
362.255. Tenure of office of directors.
362.260. Vacancies in board of directors.
362.265. Change of number of directors.
362.270. Organizational meeting of directors.
362.275. Monthly meeting of board--review of certain transactions--unanimous
consent agreements permitted, when.
362.280. Examination by directors--exceptions.
362.285. Report of directors' examination--penalty.
362.290. Communications from director shall be submitted to directors and
noted in minutes.
362.295. Reports to director--publication--penalty.
362.300. (Repealed L. 2005 H.B. 707 A)
362.305. (Repealed L. 2005 H.B. 707 A)
362.310. Surplus fund--composition--purposes.
362.315. Net income or loss for dividend period to be determined--income to
be credited to surplus fund--undivided profits available for
dividends.
362.325. Charter amended--procedure--notice--duty of director--appeal.
362.330. Bank may sell whole or any part of its assets or business--procedure.
362.331. Transfer of certain fiduciary capacities between affiliated banks and
trust companies, procedure, liabilities--objection, procedure.
362.332. Fiduciary obligations and liabilities, bank or trust company may
transfer to another bank or trust company,
procedure--definitions.
362.333. Irrevocable life insurance trusts, banks and trust companies may
transfer fiduciary obligations to the Missouri trust office or
out-of-state bank or company.
362.335. Officers and employees--limitation on powers--appointment of
president not required--chief executive officer not required to be
member of board, when.
362.336. Fraudulent checks and drafts issued by bank or agent--penalty.
362.337. Bank officer concealing loans, misdemeanor--penalty.
362.340. Employees to give bond.
362.345. Penalties for receiving deposits when insolvent.
362.350. Officers, how sued--evidence of knowledge.
362.355. Administrators of deceased officers liable.
362.360. Interpleader in certain actions--funds may remain in bank--costs.
362.375. Adverse claim to deposit--not effectual, when--contract presented by
third party, powers of bank or trust company.
362.385. Rate of interest.
362.405. Assessments by director of finance paid to director of revenue.
362.410. Preservation of books and records.
362.413. Reproduction of records--admissible in evidence--affidavit in lieu of
appearance.
362.415. Prohibitions against encroachments upon certain powers of banks.
362.420. Prohibition of banking business.
362.421. Advertising as bankers, prohibited, when--penalty.
362.422. Disclosure of nonpublic personal information by financial
institutions prohibited, rules, notice.
362.423. Foreign banks or foreign or federally chartered loan associations may
acquire and enforce indebtedness secured by property in this state.
362.425. Use of sign or words indicating bank by unauthorized persons
prohibited.
362.430. Conditions to be complied with by foreign banking corporations
applying for license.
362.435. Foreign banking corporation may transact business in this state,
when.
362.440. Licenses to foreign corporations--renewal.
362.445. Process defined--director of finance to accept service of process,
when--fee.
362.450. Revocation of authorization certificate or license in certain cases.
362.455. Rights and privileges of foreign banking corporation under
license--effect of revocation.
362.460. Reports of foreign banking corporations--penalties.
362.462. Relocation of main banking house in another state.
362.463. Out-of-state bank may relocate to this state.
362.464. Requirements for foreign bank to relocate in Missouri--application,
contents--approval, effect--certificate, filing required--relocation
of domestic bank, conversion of charter.
362.465. Deposits of minors.
362.466. Applicability of law--rights, powers, protections.
362.470. Joint deposits.
362.471. Pay-on-death accounts--form--effect--payments from.
362.475. Deposits of deceased trustee shall be paid to beneficiary.
362.480. Deposits of trustee, how paid out.
362.483. Safe deposit corporation may be granted a certificate of
incorporation by director, when--purposes of corporation.
362.485. Special remedies available to banks doing a safe deposit business.
362.487. Joint renters of safe deposit boxes authorized--surviving joint
renter opens box, lessor's option not required to be present.
362.488. Death of lessee, duties of lessor--additional duties by contract.
362.490. Banks exempt from furnishing security for insured deposits.
362.495. When payment and withdrawals may be suspended.
362.500. Shall notify finance director of suspension--duties of commissioner.
362.505. Audit of bank by director--approval of reopening plans.
362.510. When director shall liquidate.
362.515. Special deposits--nature--use.
362.520. Banks may close, when--bank holiday, effect of.
362.530. Contributions to charitable agencies.
362.550. Appointment as fiduciary--investments--handling of trust
property--effect of merger or consolidation.
362.560. Trust guaranty fund.
362.570. Application of trust guaranty fund.
362.575. Personal representatives and other persons not liable as
stockholders.
362.580. Common trust fund authorized.
362.590. Bond not required of banks and trust companies, when acting as
fiduciaries.
362.600. Reciprocal corporate fiduciary powers--certificates of reciprocity.
362.610. Banks and trust companies may merge or consolidate.
362.620. Agreement for consolidation.
362.630. Agreement for merger.
362.640. Agreement for merger or consolidation.
362.650. Certified copies evidence.
362.660. Verified copies of agreement and proceedings shall be submitted to
finance director.
362.670. Finance director shall certify finding within thirty days.
362.680. Agreement to be submitted to stockholders, when--exceptions,
procedures.
362.690. Agreement binding, when.
362.700. Agreement for merger becomes effective, when.
362.710. Agreement for consolidation becomes effective, when.
362.720. Receiving or consolidated company shall issue new certificates for
old, when.
362.730. Dissenting stockholder may receive reasonable value of his or her
stock--limitation, petition, hearing, appointment of appraisers.
362.740. Finding and report of appraisers--compensation--notice to be given
by clerk of court--minority discount.
362.750. Exceptions to appraisal, review, new appraisal, final judgment--stock
to be surrendered.
362.760. Cost of proceedings, how taxed.
362.770. Corporate existence of old merged into new company--title to
property.
362.780. New company succeeds to fiduciary relations of old.
362.790. New company liable for obligations of old.
362.800. Pending actions not to abate--substitution.
362.810. Trust and fiduciary relations of old companies continue in new.
362.820. Notice to director of division of finance prior to acquisition of
trust company--disapproval of acquisition--exceptions--disapproval,
grounds.
362.900. Declaration of intent.
362.910. Definitions.
362.915. Limitation on bank holding company--total deposits, how computed.
362.920. Procedure to obtain order allowing acquisition--duty of director.
362.923. Bank holding companies, examination of, when--considered new
business entity, when.
362.930. Injunctive relief, when.
362.935. Director of finance to administer--rules and orders authorized.
362.940. Disclaimer as to implied repeal of other law.
362.942. (Repealed L. 2001 H.B. 738 A merged with S.B. 186 A)
362.945. Definitions--examinations, cooperative and reciprocal agreements to
make examinations, when.
362.950. Affiliated entity of holding companies, transactions
authorized--out-of-state transactions.

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