Missouri Revised Statutes













Chapter 369

Savings and Loan Associations

←369.689

Section 369.695.1

369.699→

August 28, 2015

Powers of savings bank--taxed, how.

369.695. 1. The powers of a savings bank shall be limited to those of a

bank or trust company pursuant to chapter 362. Where such powers may be

exercised only upon obtaining the approval of the director, the procedures

and standards in chapter 362 shall be used in determining whether a savings

bank shall be permitted to exercise such powers and the savings bank shall be

treated for such purposes as if it were a bank. Any appeal from a decision

on such an application shall be handled as if it were an appeal by a bank

pursuant to chapter 362.



2. Except where expressly stated otherwise in sections 369.670 to

369.714, a savings bank shall be subject to the provisions of this chapter

pertaining to the organization, operation, examination, assessment,

reorganization, conversion, merger and liquidation of associations to the

same extent as if it were an association. Sections 369.019, 369.024 and

369.034 shall not apply to the incorporation of a savings bank.



3. For purposes of sections 148.610 to 148.710, a savings bank shall be

taxed as if it were a savings and loan association.



(L. 1997 H.B. 257 § 369.425)







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