369.699. Limits on investment.
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/mo/chapter-369/369-699A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
369.699. Limits on investment. — 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:
(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.
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(L. 1997 H.B. 257 § 369.430)