362.220. Agreements to pay time deposit before maturity prohibited--penalty. - Missouri Statutes

Agreements to pay time deposit before maturity prohibited--penalty.

362.220. Any director, officer or employee of a bank ortrust company who makes any agreement, express or implied, beforeor at the time of issuing a certificate of deposit by which itsholder may demand or receive payment thereof in advance of itsmaturity, or who before or at the time of receiving a savingsdeposit makes an agreement, express or implied, by which theholder of the savings passbook may demand or receive payment ofthe savings deposit in advance of the time provided for paymentunder the rules and regulations under which the savings depositwas received, shall forfeit and pay the sum of one hundreddollars for each violation of this provision, to be collected asprovided for in this chapter.

(RSMo 1939 § 7955, A.L. 1945 p. 932, A. 1949 H.B. 2085, A.L. 1967 p. 445)

Prior revisions: 1929 § 5360; 1919 § 11743