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Mo. Rev. Stat. § 362.070

Compensation for organizing bank or trust company prohibited — penalty

Known as the Missouri Family Trust Company Act

The act spans §§ 362–362 (204 sections).

Effective: 28 Aug 1967; (RSMo 1939 § 7946, A.L. 1967 p. 445); Prior revisions: 1929 § 5350; 1919 § 11733

1. No individual, partnership, unincorporated association or corporation shall, directly or indirectly, receive or contract to receive any commission, compensation, bonus, right or privilege of any kind for organizing any bank or trust company in this state, or for securing a subscription to the original capital stock or surplus of any bank or trust company in this state, or to any increase thereof; provided, that this section shall not be construed as prohibiting an attorney at law from receiving compensation for legal service in connection therewith.

2. Each and every individual, partnership, unincorporated association or corporation violating the provisions of this section shall forfeit to the state one hundred dollars for each and every violation, and in addition thereto double the amount of the commission, compensation or bonus.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.