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Mo. Rev. Stat. § 362.200

Money not to be employed in trade or commerce

Known as the Missouri Family Trust Company Act

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

Effective: 28 Aug 1967; (RSMo 1939 § 7953, A.L. 1967 p. 445); Prior revisions: 1929 § 5358; 1919 § 11741; 1909 § 1109

No corporation organized under any law of this state, whether general or special, as a bank or trust company, or to carry on a banking business, shall, except as otherwise permitted by law, employ its moneys, directly or indirectly, in trade or commerce, by buying and selling ordinary goods, chattels, wares and merchandise, or by owning or operating industrial plants; provided, that it may sell all kinds of property which may come into its possession as collateral security for loans, or in the ordinary collection of debts.

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