Missouri Laws 369.699 – Limits on investment
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1. A savings bank may not invest more than forty percent of its total assets in commercial loans. A commercial loan is a loan for business, commercial, corporate or agricultural purposes.
2. A savings bank shall maintain at least fifteen percent of its assets in assets and investments taken from the following categories:
Terms Used In Missouri Laws 369.699
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(1) First and second lien residential mortgage loans or foreclosed residential mortgage loans;
(2) Home improvement loans;
(3) Interim residential construction loans; and
(4) Mortgage-backed securities.