The moneys collected by the director shall be from time to time deposited in one or more state banks or trust companies and, in case of the insolvency or voluntary or involuntary liquidation of the depositary, these deposits shall be entitled to priority of payment on an equality with any other priority given by this chapter.
Mo. Rev. Stat. § 361.490
Deposit of moneys collected — preference
Known as the Money Transmission Modernization Act
The act spans §§ 361–361 (125 sections).
Effective: 28 Aug 1967; (RSMo 1939 § 7926, A.L. 1967 p. 445); Prior revisions: 1929 § 5331; 1919 § 11714
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.