Effective – 28 Aug 1997 369.670. Definitions. — For purposes of this chapter, the following terms mean: (1) “Association”, shall also include a savings bank chartered or converted pursuant to the provisions of sections 369.670 to 369.714; (2) “Director”, shall refer to the director of the division of finance unless the context indicates otherwise. ——– […]
Effective – 28 Aug 1997 369.675. Savings bank, establishment — articles of agreement, requirements. — 1. When authorized by the director, any five or more persons who associate themselves by written articles of agreement, as provided by law, for the purpose of establishing a savings bank, may be incorporated under any name or title designating […]
Effective – 28 Aug 2019, 2 histories 369.678. Articles of agreement, requirements, filing, director’s duties — recording of articles, where. — The articles of agreement shall be signed and acknowledged by the parties to the articles of agreement, and shall be filed with the director. If the director finds the articles to be improperly drawn, […]
Effective – 28 Aug 1997 369.684. Examination required, expenses. — 1. When any savings bank has filed with the director proper copies of its articles of agreement, paid the incorporation and other fees in full, and provided the cash, as required by law, the director, before the savings bank completes its incorporation, shall cause an […]
Effective – 28 Aug 1997 369.689. Certificate of organization, recorded. — 1. If the director finds that all the provisions of the law have been complied with, the director shall grant a certificate setting forth that such savings bank has been duly organized and the amount of its capital subscribed and paid up in full. […]
Effective – 28 Aug 1997 369.695. Powers of savings bank — taxed, how. — 1. The powers of a savings bank shall be limited to those of a bank or trust company pursuant to chapter 362. Where such powers may be exercised only upon obtaining the approval of the director, the procedures and standards in […]
Effective – 28 Aug 1997 369.699. Limits on investment. — 1. A savings bank may not invest more than forty percent of its total assets in commercial loans. A commercial loan is a loan for business, commercial, corporate or agricultural purposes. 2. A savings bank shall maintain at least fifteen percent of its assets in […]
Effective – 28 Aug 1997 369.703. Merger — conversion — trust powers — director’s powers. — 1. A savings bank may merge with or convert its charter to that of a bank pursuant to the provisions of section 369.087, to the same extent as if it were an association. 2. A savings bank may exercise […]
Effective – 28 Aug 2021 369.705. Definitions — savings banks merger with nonbank subsidiaries or nonbank affiliates — procedure. — 1. As used in this section, the following terms mean: (1) “Nonbank affiliate”, any nonbank business entity of which a bank holding company or bank savings and loan holding company holds control, as defined under […]
Effective – 28 Aug 1997 369.708. Law to apply. — A savings bank shall follow the provisions of chapter 361 and chapter 362 as if it were a bank organized pursuant to those chapters for the following: (1) To apply for and to operate branch offices; (2) To purchase real estate or organize subsidiary corporations; […]
Effective – 28 Aug 1997 369.714. Conversion, consolidation, merger. — 1. Any association or federal association may be converted into a savings bank pursuant to the laws of the state of Missouri. Such savings bank shall be located in the city or town in which the converting association or federal association is located. Such association […]
