1. The director of finance may grant a certificate of incorporation for a safe deposit corporation, all of the stock of which will be held by a bank or trust company, in the manner provided for the incorporation of banks and trust companies in sections 362.020 to 362.035.

2. Any such safe deposit corporation shall be incorporated only for the purpose of taking and receiving as bailee for safekeeping and storage only, jewelry, plate, money, specie, bullion, stocks, bonds, securities and valuable papers of any kind, and other valuables, upon such terms and for such compensation as may be agreed upon; and letting out vaults, safes and other receptacles for the uses, purposes and benefits of such corporation.

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Terms Used In Missouri Laws 362.483

  • 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
  • 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.
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