371.250. Corporations and banks may own stock or securities of company, securities exempt.

MISSOURI STATUTES AND CODES

371.250. Corporations and banks may own stock or securities of company, securities exempt.

Corporations and banks may own stock or securities of company,securities exempt.

371.250. Notwithstanding any rule at common law or anyprovision of any law or any provision in their respectivecharters, agreements of association, articles of organization,certificates of incorporation, or trust indentures:

(1) All domestic corporations organized for the purpose ofcarrying on business within this state, including, withoutimplied limitation, any railroad or transportation corporation,and all trusts, are authorized to acquire, purchase, hold, sell,assign, transfer, mortgage, pledge or otherwise dispose of anybonds, securities, or other evidences of indebtedness created by,or the shares of the capital stock of any corporation establishedby this chapter and, while owners of said stock, to exercise allthe rights, powers and privileges of ownership, including theright to vote thereon, all without the approval of any regulatoryauthority of this state;

(2) All banking organizations are hereby authorized tobecome members of any corporation established by this chapter andto make loans to any such corporation as provided herein;

(3) A banking organization which does not become a member ofa corporation established by this chapter shall not acquire anyshares of the capital stock of such corporation;

(4) Each banking organization which becomes a member of acorporation established by this chapter is authorized to acquire,purchase, hold, sell, assign, transfer, mortgage, pledge, orotherwise dispose of any bonds, securities or other evidences ofindebtedness issued by such corporation or the shares of itscapital stock and while owners of said stock to exercise all therights, powers and privileges of ownership, including the rightto vote thereon, all without the approval of any regulatoryauthority of this state; except that the amount of capital stockof such corporation which may be acquired by any member pursuantto the authority granted herein shall not exceed ten percent ofthe loan limit of such member as provided by law. The amount ofcapital stock of such corporation which any member is authorizedto acquire pursuant to the authority granted herein shall be inaddition to the amount of capital stock in corporations whichsuch member may otherwise be authorized to acquire;

(5) The bonds, securities or other evidences ofindebtedness, and shares of capital stock of a corporationestablished pursuant to this chapter shall be exempt from theprovisions of chapter 409, RSMo, and all rules promulgatedthereunder.