Missouri Revised Statutes













Chapter 362

Banks and Trust Companies

←362.025

Section 362.030.1

362.035→

August 28, 2015

Director to examine as to character and capital.

362.030. 1. When any bank or trust company has filed with the director

proper copies of its articles of agreement, paid all incorporation and other

fees in full, as required by law and provided the cash required by law, the

director, before the bank or trust company shall complete its incorporation,

shall cause an examination to be made to ascertain whether the requisite

capital of the bank or trust company has been subscribed in good faith and

paid in actual cash and is ready for use in the transaction of business of

the proposed bank or trust company, and whether the character, responsibility

and general fitness of the persons named in the articles of agreement and any

bank holding company on whose behalf they are acting are such as to command

confidence and warrant belief that the business of the proposed corporation

will be conducted honestly and efficiently in accordance with the intent and

purpose of this chapter; and if the convenience and needs of the community to

be served justify and warrant the opening of the bank or trust company

therein, and if the probable volume of business in such locality is

sufficient to insure and maintain the solvency of the new bank or trust

company and the solvency of the then existing banks and trust companies in

the locality, without endangering the safety of any bank or trust company in

the locality as a place of deposit of public and private moneys.



2. The proponents shall be liable for all expenses incurred in making

the examination, including the wages and other necessary expenses of each

examiner making the examination; provided, however, that if the charter is

granted, this obligation may be assumed by the bank or trust company so

chartered.



(RSMo 1939 § 7942, A.L. 1941 p. 670, A. 1949 H.B. 2085,

A.L. 1951 p. 283, A.L. 1959 H.B. 389, A.L. 1967 p. 445,

A.L. 1984 H.B. 1373)



Prior revisions: 1929 § 5347; 1919 § 11730; 1909 § 1095







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