Missouri § 371.170 Deposits and loans of funds, regulation — not to receive deposits.

Missouri Statutes

§ 371.170 — Deposits and loans of funds, regulation — not to receive deposits.

Missouri § 371.170

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 371Development Finance Corporations

This text of Missouri § 371.170 (Deposits and loans of funds, regulation — not to receive deposits.) 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. § 371.170 (2026).

Text

The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depositary by a vote of a majority of the directors, exclusive of any director who is an officer or director of the depositary so designated.  The corporation shall not receive money on deposit.  No loans shall be made directly or indirectly to any officer of the corporation or to any firm of which such officer is a member or officer.

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The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depositary by a vote of a majority of the directors, exclusive of any director who is an officer or director of the depositary so designated. The corporation shall not receive money on deposit. No loans shall be made directly or indirectly to any officer of the corporation or to any firm of which such officer is a member or officer.