369.699. Limits on investment. - Missouri Statutes

Limits on investment.

369.699. 1. A savings bank may not invest more than forty percent ofits total assets in commercial loans. A commercial loan is a loan forbusiness, commercial, corporate or agricultural purposes.

2. A savings bank shall maintain at least fifteen percent of itsassets in assets and investments taken from the following categories:

(1) First and second lien residential mortgage loans or foreclosedresidential mortgage loans;

(2) Home improvement loans;

(3) Interim residential construction loans; and

(4) Mortgage-backed securities.

(L. 1997 H.B. 257 § 369.430)