Missouri Laws 369.219 – Approved investments
An association may invest in the following securities:
(1) Obligations of, or obligations fully guaranteed as to principal and interest by, the United States or the state of Missouri;
Terms Used In Missouri Laws 369.219
- Agency: a place of business other than the home office or a branch office at which an agent of the association transacts authorized business of the association. See Missouri Laws 369.014
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: a savings and loan association or a savings association subject to the provisions of this chapter. See Missouri Laws 369.014
- Branch: a place of business other than the home office at which is transacted authorized business of the association. See Missouri Laws 369.014
- Capital: the capital stock and any other capital contributions in a capital stock association. See Missouri Laws 369.014
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: includes the City of St. See Missouri Laws 369.014
- Director of the division of finance: the chief officer of the division of finance. See Missouri Laws 369.014
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Home office: the location named in the articles of incorporation or the new location in place thereof approved by the director of the division of finance. See Missouri Laws 369.014
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Office: any place at which business of the association is conducted on a regular and continuing basis. See Missouri Laws 369.014
- 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
- United States: includes such district and territories. See Missouri Laws 1.020
(2) Stock or obligations of any Office of Thrift Supervision or any successor thereto, of the Federal Deposit Insurance Corporation or any successor thereto, of the Federal National Mortgage Association, of the Government National Mortgage Association, of the Federal Home Loan Mortgage Corporation, the Student Loan Marketing Association, the Federal Home Loan Banks, the Federal Farm Credit Banks or of any corporation or agency of the United States or of this state succeeding any of such corporations or performing similar functions;
(3) Demand, time, or savings deposits, or accounts of any state or federally chartered financial institution, but such deposits or accounts in institutions not insured by a federal agency shall be limited to amounts permitted by regulation of the director of the division of finance;
(4) Stock of a not-for-profit industrial or community development corporation established for the general welfare of the area but not in excess of a total investment of one-half of one percent of its assets;
(5) Obligations of any city, county, town, school district or other political subdivisions of any state including any agency, corporation, or instrumentality of a state or political subdivision in an amount to any one issuer not greater than ten percent of the capital of the association exclusive of investments in general obligations of any issuer, but each such investment shall, when made, meet any requirements as to quality which the director of the division of finance may prescribe; provided, that any obligations of a political subdivision of any state, including an agency, corporation or instrumentality of a political subdivision may be purchased without regard to such quality requirements in an aggregate amount not exceeding an additional one percent of the association’s assets if the association’s home office, branch office or agency is located in such county;
(6) Capital stock obligations or other securities of any service corporation, as defined by the director of the division of finance, organized under the laws of any state in which all stock is owned by one or more associations or federal associations in an aggregate amount not exceeding that percent of the assets of the association fixed from time to time by the director of the division of finance; and
(7) Such other securities and in such amounts as may be approved from time to time by the director of the division of finance, and any securities purchased while so approved may be retained if the approval is later withdrawn.