110.060. Banks to provide security for certain deposits, when. - Missouri Statutes

Banks to provide security for certain deposits, when.

110.060. All banks and trust companies and other bankinginstitutions now or hereafter engaged in business in this stateshall be and they are hereby likewise authorized with respect tofunds of the United States government or of any agency orinstrumentality thereof, or funds held under the provisions ofthe Bankruptcy Act and amendments thereof, or the provisions ofany other act of congress, which may be deposited with them, toprovide and maintain security for such deposits as may be by suchlaws required. All banks and trust companies and other bankinginstitutions now or hereafter engaged in business in this stateshall be, and they are hereby, likewise authorized, with respectto funds of any housing authority created under chapter 99, RSMo,and amendments thereof, which may be deposited with them, toprovide and maintain security for such deposits, as may berequired under any agreement of any such housing authority withthe United States, or any agency or instrumentality thereof, forloans, grants-in-aid, annual contributions or other financialassistance to such housing authority, or as may be required underany general depositary agreement or any fiscal agent agreement ofany such housing authority with any such bank or trust companyexecuted pursuant to any such annual contributions contract.

(RSMo 1939 § 8188, A.L. 1953 p. 660)