362.420. Prohibition of banking business. - Missouri Statutes

Prohibition of banking business.

362.420. No corporation, domestic or foreign, other than acorporation formed under or subject to the banking laws of thisstate or of the United States, except as permitted by such laws,shall by any implication or construction be deemed to possess thepower of carrying on the business of discounting bills, notes orother evidences of debt, of receiving deposits, of buying andselling bills of exchange, or of issuing bills, notes or otherevidences of debt for circulation as money, or of engaging in anyother form of banking.

(RSMo 1939 § 7890, A. 1949 H.B. 2085)

Prior revisions: 1929 § 5296; 1919 § 11684