Missouri § 362.030 - Director to examine as to character and capital.
Full text of Missouri Revised Statutes of Missouri § 362.030 — Director to examine as to character and capital., with citation guidance and answers to common questions.
§ 362.030. Director to examine as to character and capital.
1. When any bank or trust company has filed with the director its articles of agreement, paid all incorporation and other fees in full, as required by law and provided the cash required by law, the director, before the bank or trust company shall complete its incorporation, shall cause an examination to be made to ascertain whether the requisite capital of the bank or trust company has been subscribed in good faith and paid in actual cash and is ready for use in the transaction of business of the proposed bank or trust company, and whether the character, responsibility and general fitness of the persons named in the articles of agreement and any bank holding company on whose behalf they are acting are such as to command confidence and warrant belief that the business of the proposed corporation will be conducted honestly and efficiently in accordance with the intent and purpose of this chapter; and if the convenience and needs of the community to be served justify and warrant the opening of the bank or trust company therein, and if the probable volume of business in such locality is sufficient to insure and maintain the solvency of the new bank or trust company and the solvency of the then existing banks and trust companies in the locality, without endangering the safety of any bank or trust company in the locality as a place of deposit of public and private moneys.
2. The proponents shall be liable for all expenses incurred in making the examination, including the wages and other necessary expenses of each examiner making the examination; provided, however, that if the charter is granted, this obligation may be assumed by the bank or trust company so chartered.
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(RSMo 1939 § 7942, A.L. 1941 p. 670, A. 1949 H.B. 2085, A.L. 1951 p. 283, A.L. 1959 H.B. 389, A.L. 1967 p. 445, A.L. 1984 H.B. 1373, A.L. 2019 S.B. 179)
Prior revisions: 1929 § 5347; 1919 § 11730; 1909 § 1095
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Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.030
What does Revised Statutes of Missouri § 362.030 cover?
Section 362.030 ("Director to examine as to character and capital.") 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 § 362.030?
A common citation format is "Revised Statutes of Missouri § 362.030" (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 § 362.030 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.