Missouri Laws 369.161 – Savings and loan association or savings bank may act as custodian, when
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Terms Used In Missouri Laws 369.161
- Association: a savings and loan association or a savings association subject to the provisions of this chapter. 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.
In addition to any other banking authority, a savings and loan association or savings bank may act as a custodian for any entity, public or private, and place funds in any other financial institutions, provided such funds are placed in deposits and insured by the Federal Deposit Insurance Corporation.