An association may impose fees or service charges on accounts; however, such fees or service charges are subject to such conditions or requirements that may be fixed by regulations pursuant to section 369.301 by the director of the division of finance and the board. Notwithstanding any law to the contrary, no such condition or requirement shall be more restrictive than the fees or service charges on deposit accounts or similar accounts permitted any federally chartered depository institution and no contractual fee charged for overdrawing the balance of a deposit account shall be deemed interest.
Mo. Rev. Stat. § 369.159
Fee or service charge authorized
Known as the Savings and Loan Law
The act spans §§ 369–369 (92 sections).
Effective: 28 Aug 2015, 3 histories; (L. 1971 S.B. 3 § 31, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165, A.L. 2003 H.B. 221 merged with S.B. 346, A.L. 2011 H.B. 464, A.L. 2015 S.B. 524)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.