Missouri Laws 362.172 – Investment in stock of banks or bank holding companies — limitations
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Terms Used In Missouri Laws 362.172
- Bank: means any corporation soliciting, receiving or accepting money, or its equivalent, on deposit as a business, whether the deposit is made subject to check, or is evidenced by a certificate of deposit, a passbook, a note, a receipt, or other writing, and specifically a commercial bank chartered under this chapter or a national bank located in this state. See Missouri Laws 362.010
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- Surplus: means the excess of assets over liabilities including liability to stockholders. See Missouri Laws 362.010
- Undivided profits: means the credit balance of the profit and loss account of any corporation to which this chapter is applicable. See Missouri Laws 362.010
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.