Missouri Revised Statutes













Chapter 362

Banks and Trust Companies

←362.200

Section 362.205.1

362.207→

August 28, 2015

Account books, requirements--property, how carried.

362.205. 1. No bank or trust company shall by any system of accounting

or any device of bookkeeping, directly or indirectly, enter any of its assets

upon its books in the name of any other individual, partnership or

corporation, or under any title or designation that is not truly descriptive

thereof.



2. The bonds and other interest-bearing corporate securities purchased

by a bank or trust company shall be entered on its books at the actual cost

thereof, and for the purpose of calculating the undivided profits applicable

to the payment of dividends the securities shall not be estimated at a

valuation exceeding their present cost as determined by amortization, that

is, by deducting from the cost of the security purchased for a sum in excess

of the amount payable thereon at maturity, and charging to profit and loss a

sufficient sum to bring it to par at maturity, or adding to the cost of the

security purchased at less than the amount payable thereon at maturity, and

crediting to profit and loss a sufficient sum to bring it to par at maturity.



3. No bank or trust company shall, except with the written approval of

the director, enter or at any time carry on its books the real estate and the

building or buildings thereon or the furniture and fixtures used by it at a

valuation exceeding their actual cost to the bank or trust company, or book

value, whichever is less.



4. Every bank and trust company shall conform its methods of keeping its

books and records to such orders in respect thereto as shall have been made

and promulgated by the director pursuant to section 361.260.



(RSMo 1939 § 7954, A.L. 1967 p. 445)



Prior revisions: 1929 § 5359; 1919 § 11742







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