Missouri § 362.023 - Trust company may refuse demand deposits by its articles of incorporation, effect of.
Full text of Missouri Revised Statutes of Missouri § 362.023 — Trust company may refuse demand deposits by its articles of incorporation, effect of., with citation guidance and answers to common questions.
§ 362.023. Trust company may refuse demand deposits by its articles of incorporation, effect of.
1. Other provisions of the law to the contrary notwithstanding, the articles of agreement of any trust company may preclude the acceptance of demand deposits, in which case the procedure for granting or denying a charter for the proposed trust company shall be as provided in sections 362.025 to 362.040, except that the determination of need and convenience as provided in section 362.030 shall be limited to the need for fiduciary services as authorized under subsection 3 of section 362.105.
2. No trust company the articles of which preclude or do not affirmatively provide for the acceptance of demand deposits, and no trust company which does not regularly accept demand deposits on September 28, 1977, shall accept demand deposits without a certificate issued by the director of finance authorizing the acceptance of demand deposits. The application for such certificate shall be treated as an application for a new charter and shall be granted or denied as provided in sections 362.030 to 362.040.
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(L. 1977 S.B. 420, A.L. 2021 S.B. 106)
---- end of effective 28 Aug 2021 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.023
What does Revised Statutes of Missouri § 362.023 cover?
Section 362.023 ("Trust company may refuse demand deposits by its articles of incorporation, effect of.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 362.023?
A common citation format is "Revised Statutes of Missouri § 362.023" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 362.023 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.