362.430. Conditions to be complied with by foreign banking corporations applying for license.

283 words·~1 min read·/mo/chapter-362/362-430

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

362.430. Conditions to be complied with by foreign banking corporations applying for license. — 1. Every foreign banking corporation before being licensed by the finance director to transact in this state the business of buying, selling, paying or collecting bills of exchange, or of issuing letters of credit or of receiving money for transmission or transmitting the same by draft, check, cable or otherwise, or of making sterling or other loans, or any part of such business, or before maintaining in this state any agency for carrying on such business or any part thereof, shall subscribe and acknowledge and submit to the finance director at his office a separate application certificate for each agency which such foreign corporation proposes to establish in this state, which shall specifically state:

(1)The name of such foreign banking corporation;

(2)The place where its business is to be transacted in this state, and the name of the agent or agents through whom such business is to be transacted;

(3)The amount of its capital actually paid in cash and the amount subscribed for and unpaid;

(4)The actual value of the assets of such corporation which must be at least two hundred fifty thousand dollars in excess of its liabilities and a complete and detailed statement of its financial condition as of a date within sixty days prior to the date of such application.

2. At the time such application certificate is submitted to the director, such corporation shall also submit a duly exemplified copy of its charter and a verified copy of its bylaws, or the equivalent thereof.

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(RSMo 1939 § 7992, A.L. 2019 S.B. 179)

Prior revisions: 1929 § 5396; 1919 § 11775