Missouri Revised Statutes













Chapter 362

Banks and Trust Companies

←362.035

Section 362.040.1

362.042→

August 28, 2015

Notice of refusal of certificate--appeal.

362.040. In case the director shall not be satisfied, as the result

of the examination, that the character, responsibility and general fitness

of the persons named in the articles of agreement are up to the standard

above provided, or that the convenience and needs of the community to be

served justify and warrant the opening of the new bank or trust company

therein, or that the probable volume of business in such locality is

sufficient to insure and maintain the solvency of the new bank and the

solvency of the then existing banks or trust companies in the locality,

without endangering the safety of any bank or trust company in the locality

as a place of deposit of public and private moneys; and on these accounts

or any one of them shall refuse to grant the certificate of incorporation,

the director shall forthwith give notice thereof to the proposed

incorporators from whom the articles of agreement were received, who, if

they so desire, may within ten days thereafter appeal from the refusal to

the state banking and savings and loan board.



(RSMo 1939 § 7942, A.L. 1941 p. 670, A. 1949 H.B. 2085, A.L. 1955 p.

266, A.L. 1967 p. 445, A.L. 2011 H.B. 464)



Prior revisions: 1929 § 5347; 1919 § 11730; 1909 § 1095





1991



1991



362.040. In case the director shall not be satisfied, as the result of

the examination, that the character, responsibility and general fitness of

the persons named in the articles of agreement are up to the standard above

provided, or that the convenience and needs of the community to be served

justify and warrant the opening of the new bank or trust company therein, or

that the probable volume of business in such locality is sufficient to insure

and maintain the solvency of the new bank and the solvency of the then

existing banks or trust companies in the locality, without endangering the

safety of any bank or trust company in the locality as a place of deposit of

public and private moneys; and on these accounts or any one of them shall

refuse to grant the certificate of incorporation, he shall forthwith give

notice thereof to the proposed incorporators from whom the articles of

agreement were received, who, if they so desire, may within ten days

thereafter appeal from the refusal to the state banking board.



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