369.219. Approved investments. - Missouri Statutes

Approved investments.

369.219. An association may invest in the following securities:

(1) Obligations of, or obligations fully guaranteed as to principaland interest by, the United States or the state of Missouri;

(2) Stock or obligations of any Office of Thrift Supervision or anysuccessor thereto, of the Federal Deposit Insurance Corporation or anysuccessor thereto, of the Federal National Mortgage Association, of theGovernment National Mortgage Association, of the Federal Home Loan MortgageCorporation, the Student Loan Marketing Association, the Federal Home LoanBanks, the Federal Farm Credit Banks or of any corporation or agency of theUnited States or of this state succeeding any of such corporations orperforming similar functions;

(3) Demand, time, or savings deposits, or accounts of any state orfederally chartered financial institution, but such deposits or accounts ininstitutions not insured by a federal agency shall be limited to amountspermitted by regulation of the director of the division of finance;

(4) Stock of a not-for-profit industrial or community developmentcorporation established for the general welfare of the area but not inexcess of a total investment of one-half of one percent of its assets;

(5) Obligations of any city, county, town, school district or otherpolitical subdivisions of any state including any agency, corporation, orinstrumentality of a state or political subdivision in an amount to any oneissuer not greater than ten percent of the capital of the associationexclusive of investments in general obligations of any issuer, but eachsuch investment shall, when made, meet any requirements as to quality whichthe director of the division of finance may prescribe; provided, that anyobligations of a political subdivision of any state, including an agency,corporation or instrumentality of a political subdivision may be purchasedwithout regard to such quality requirements in an aggregate amount notexceeding an additional one percent of the association's assets if theassociation's home office, branch office or agency is located in suchcounty;

(6) Capital stock obligations or other securities of any servicecorporation, as defined by the director of the division of finance,organized under the laws of any state in which all stock is owned by one ormore associations or federal associations in an aggregate amount notexceeding that percent of the assets of the association fixed from time totime by the director of the division of finance; and

(7) Such other securities and in such amounts as may be approved fromtime to time by the director of the division of finance, and any securitiespurchased while so approved may be retained if the approval is laterwithdrawn.

(L. 1971 S.B. 3 § 43, A.L. 1983 H.B. 570, A.L. 1989 S.B. 40, A.L. 1994 H.B. 1165, A.L. 2000 S.B. 896)

CROSS REFERENCE:

Multinational banks, securities and obligations of, investment in, when, RSMo 409.950