Missouri § 369.214 Redemption of accounts, how and when, effect of.

Missouri Statutes

§ 369.214 — Redemption of accounts, how and when, effect of.

Missouri § 369.214

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 369Savings and Loan Associations

This text of Missouri § 369.214 (Redemption of accounts, how and when, effect of.) 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. § 369.214 (2026).

Text

1.An association may redeem, by lot or otherwise as the board of directors may determine, subject to approval of the director of the division of finance, all or any part of its accounts on an earnings payment date by giving thirty days' notice by registered mail to each owner of an account to be redeemed at the owner's last address as shown on the books of the association, but the association may not do so when it is in an impaired condition or has applications for withdrawal on file unpaid. The redemption price of each account redeemed shall be its withdrawal value.

2.Earnings and all rights of the owner of any account called for redemption, except the right to receive the redemption price, cease after the date fixed for redemption if the notice of intended redemption is given as re

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1. An association may redeem, by lot or otherwise as the board of directors may determine, subject to approval of the director of the division of finance, all or any part of its accounts on an earnings payment date by giving thirty days' notice by registered mail to each owner of an account to be redeemed at the owner's last address as shown on the books of the association, but the association may not do so when it is in an impaired condition or has applications for withdrawal on file unpaid. The redemption price of each account redeemed shall be its withdrawal value.

2. Earnings and all rights of the owner of any account called for redemption, except the right to receive the redemption price, cease after the date fixed for redemption if the notice of intended redemption is given as required by this section and if funds are available for the redemption on such date.