Missouri § 620.1060 Prohibited loans — definitions.

Missouri Statutes

§ 620.1060 — Prohibited loans — definitions.

Missouri § 620.1060

Title XLADDITIONAL EXECUTIVE DEPARTMENTS

Ch. 620Department of Economic Development

This text of Missouri § 620.1060 (Prohibited loans — definitions.) 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. § 620.1060 (2026).

Text

1. No financial institution shall make a loan pursuant to sections 620.1045 to 620.1063 to a borrower if the borrower is an executive officer, director or principal shareholder of the institution or is a member of the immediate family of an executive officer, director or principal shareholder of the institution, or a related interest of such executive officer, director or principal shareholder or member of the immediate family. 2. For purposes of this section, the following terms mean:

(1)"Immediate family" , the spouse of the individual, the individual's minor children and any of the individual's children, including adults, residing in the individual's home;

(2)"Related interest of the person" :

(a)A company that is controlled by the person; or

(b)A political or campaign comm

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1. No financial institution shall make a loan pursuant to sections 620.1045 to 620.1063 to a borrower if the borrower is an executive officer, director or principal shareholder of the institution or is a member of the immediate family of an executive officer, director or principal shareholder of the institution, or a related interest of such executive officer, director or principal shareholder or member of the immediate family.

2. For purposes of this section, the following terms mean:

(1) "Immediate family" , the spouse of the individual, the individual's minor children and any of the individual's children, including adults, residing in the individual's home;

(2) "Related interest of the person" :

(a) A company that is controlled by the person; or

(b) A political or campaign committee that is controlled by such person or the funds or services of which will benefit such person.