Missouri § 370.365 Central credit union defined — how formed — fee, how determined.

Missouri Statutes

§ 370.365 — Central credit union defined — how formed — fee, how determined.

Missouri § 370.365

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 370Credit Unions

This text of Missouri § 370.365 (Central credit union defined — how formed — fee, how determined.) 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. § 370.365 (2026).

Text

1.A "central credit union" is one organized for the primary purpose of serving other credit unions; except that, where the dollar amount of shares held by credit unions and associations of credit unions shall fall below seventy-five percent of the total shareholdings, the director may suspend the privilege of operating as a central credit union.

2.A central credit union may be chartered in the same manner as are all other credit unions, except that, the field of membership shall be limited to credit unions, associations of credit unions and other persons expressly identified in the bylaws; and further, central credit unions may invest in the shares of other credit unions including other central credit unions, may purchase loans from credit unions, may borrow up to five times its capit

Free access — add to your briefcase to read the full text and ask questions with AI

1. A "central credit union" is one organized for the primary purpose of serving other credit unions; except that, where the dollar amount of shares held by credit unions and associations of credit unions shall fall below seventy-five percent of the total shareholdings, the director may suspend the privilege of operating as a central credit union.

2. A central credit union may be chartered in the same manner as are all other credit unions, except that, the field of membership shall be limited to credit unions, associations of credit unions and other persons expressly identified in the bylaws; and further, central credit unions may invest in the shares of other credit unions including other central credit unions, may purchase loans from credit unions, may borrow up to five times its capital, surplus and reserve fund, may lend to each member no more than twenty-five percent of its assets, and may be required to insure its deposits only when so ordered by the director.

3. When a central credit union is organized under this section, the director, in lieu of other fees, shall charge the actual and necessary costs of examination, not to exceed three thousand dollars, to the central credit union.