No corporation, domestic or foreign, other than a corporation formed under or subject to the banking laws of this state or of the United States, except as permitted by such laws, shall by any implication or construction be deemed to possess the power of carrying on the business of discounting bills, notes or other evidences of debt, of receiving deposits, of buying and selling bills of exchange, or of issuing bills, notes or other evidences of debt for circulation as money, or of engaging in any other form of banking.
Mo. Rev. Stat. § 362.420
Prohibition of banking business
Known as the Missouri Family Trust Company Act
The act spans §§ 362–362 (204 sections).
Effective: 28 Aug 1949; (RSMo 1939 § 7890, A. 1949 H.B. 2085); Prior revisions: 1929 § 5296; 1919 § 11684
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.