362.430. Conditions to be complied with by foreign banking corporations applying for license. - Missouri Statutes

Conditions to be complied with by foreign banking corporationsapplying for license.

362.430. 1. Every foreign banking corporation before beinglicensed by the finance director to transact in this state thebusiness of buying, selling, paying or collecting bills ofexchange, or of issuing letters of credit or of receiving moneyfor transmission or transmitting the same by draft, check, cableor otherwise, or of making sterling or other loans, or any partof such business, or before maintaining in this state any agencyfor carrying on such business or any part thereof, shallsubscribe and acknowledge and submit to the finance director athis office a separate application certificate in duplicate foreach agency which such foreign corporation proposes to establishin this state, which shall specifically state:

(1) The name of such foreign banking corporation;

(2) The place where its business is to be transacted in thisstate, and the name of the agent or agents through whom suchbusiness is to be transacted;

(3) The amount of its capital actually paid in cash and theamount subscribed for and unpaid;

(4) The actual value of the assets of such corporation whichmust be at least two hundred and fifty thousand dollars in excessof its liabilities and a complete and detailed statement of itsfinancial condition as of a date within sixty days prior to thedate of such application.

2. At the time such application certificate is submitted tothe director, such corporation shall also submit a dulyexemplified copy of its charter and a verified copy of itsbylaws, or the equivalent thereof.

(RSMo 1939 § 7992)

Prior revisions: 1929 § 5396; 1919 § 11775