Missouri § 362.310 Surplus fund — composition — purposes.

Missouri Statutes

§ 362.310 — Surplus fund — composition — purposes.

Missouri § 362.310

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 362Banks and Trust Companies

This text of Missouri § 362.310 (Surplus fund — composition — purposes.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 362.310 (2026).

Text

Every bank and trust company shall create a fund to be known as a "surplus fund".  This fund may be created or increased by contributions or by transfers from undivided profits.  The fund up to forty percent of the capital of the bank or trust company shall be used only for the payment of losses in excess of undivided profits; provided, that the excess of surplus over forty percent, upon the approval of the director of finance, may be capitalized as a stock dividend or may be transferred to undivided profits and used for cash dividends in the discretion of the board of directors.

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Every bank and trust company shall create a fund to be known as a "surplus fund". This fund may be created or increased by contributions or by transfers from undivided profits. The fund up to forty percent of the capital of the bank or trust company shall be used only for the payment of losses in excess of undivided profits; provided, that the excess of surplus over forty percent, upon the approval of the director of finance, may be capitalized as a stock dividend or may be transferred to undivided profits and used for cash dividends in the discretion of the board of directors.