Missouri Laws 362.462 – Relocation of main banking house in another state
Terms Used In Missouri Laws 362.462
- 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
- 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
- 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
- Statute: A law passed by a legislature.
A bank or trust company subject to the provisions of chapter 362 may, with the approval of the director of the division of finance, relocate its main banking house up to thirty miles to a location in another state. No such relocation shall occur until such bank has obtained a charter or certificate of incorporation from such other state. Following the relocation, the institution may maintain its Missouri locations and, if such are maintained, the bank may establish additional Missouri locations under the provisions of section 362.107, to the same extent as if the bank was a Missouri bank, provided the state to which the Missouri bank relocates, permits banks chartered under such state authority’s powers substantially similar to the authority provided in sections 362.462 to 362.464. Such power may be provided by statute, regulation or such state bank regulator’s order. Sections 362.462 to 362.464 authorize parity between state and national banks as provided in 12 U.S.C. § 30, notwithstanding any other law to the contrary.