Missouri Revised Statutes













Chapter 369

Savings and Loan Associations

←369.214

Section 369.219.1

369.224→

August 28, 2015

Approved investments.

369.219. An association may invest in the following securities:



(1) Obligations of, or obligations fully guaranteed as to principal and

interest by, the United States or the state of Missouri;



(2) Stock or obligations of any Office of Thrift Supervision or any

successor thereto, of the Federal Deposit Insurance Corporation or any

successor thereto, of the Federal National Mortgage Association, of the

Government National Mortgage Association, of the Federal Home Loan Mortgage

Corporation, the Student Loan Marketing Association, the Federal Home Loan

Banks, the Federal Farm Credit Banks or of any corporation or agency of the

United States or of this state succeeding any of such corporations or

performing similar functions;



(3) Demand, time, or savings deposits, or accounts of any state or

federally chartered financial institution, but such deposits or accounts in

institutions not insured by a federal agency shall be limited to amounts

permitted by regulation of the director of the division of finance;



(4) Stock of a not-for-profit industrial or community development

corporation established for the general welfare of the area but not in excess

of a total investment of one-half of one percent of its assets;



(5) Obligations of any city, county, town, school district or other

political subdivisions of any state including any agency, corporation, or

instrumentality of a state or political subdivision in an amount to any one

issuer not greater than ten percent of the capital of the association

exclusive of investments in general obligations of any issuer, but each such

investment shall, when made, meet any requirements as to quality which the

director of the division of finance may prescribe; provided, that any

obligations of a political subdivision of any state, including an agency,

corporation or instrumentality of a political subdivision may be purchased

without regard to such quality requirements in an aggregate amount not

exceeding an additional one percent of the association's assets if the

association's home office, branch office or agency is located in such county;



(6) Capital stock obligations or other securities of any service

corporation, as defined by the director of the division of finance, organized

under the laws of any state in which all stock is owned by one or more

associations or federal associations in an aggregate amount not exceeding

that percent of the assets of the association fixed from time to time by the

director of the division of finance; and



(7) Such other securities and in such amounts as may be approved from

time to time by the director of the division of finance, and any securities

purchased while so approved may be retained if the approval is later

withdrawn.



(L. 1971 S.B. 3 § 43, A.L. 1983 H.B. 570, A.L. 1989 S.B. 40, A.L.

1994 H.B. 1165, A.L. 2000 S.B. 896)



CROSS REFERENCE:



Multinational banks, securities and obligations of, investment in,

when, 409.950







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