374.300. Financial institution defined. - Missouri Statutes

Financial institution defined.

374.300. As used in sections 374.300 to 374.310, "financialinstitution" means any bank, bank holding company, sales financecompany, consumer finance company, credit union, insurancecompany, lender as that term is defined in subdivision (3) ofsection 367.100, RSMo, savings and loan association, savings andloan association holding company, savings and loan associationservice corporation, company operating under the mortgagebrokerage laws of this state, or any subsidiary of any of theforegoing. This definition shall not, however, include anyfinancial institution which has been granted an exemption by theBoard of Governors of the Federal Reserve System pursuant toSection 4(d) of the Federal Bank Holding Company Act of 1956, asamended, or any financial institution which neither owns morethan ten percent of the capital stock nor exercises effectivecontrol of a bank, savings and loan association or entitylicensed under the mortgage brokerage laws of this state, whichis licensed or authorized to transact business in this state.

(L. 1977 H.B. 40 § 1)