Missouri § 362.070 - Compensation for organizing bank or trust company prohibited — penalty.
Full text of Missouri Revised Statutes of Missouri § 362.070 — Compensation for organizing bank or trust company prohibited — penalty., with citation guidance and answers to common questions.
§ 362.070. Compensation for organizing bank or trust company prohibited — penalty.
1. No individual, partnership, unincorporated association or corporation shall, directly or indirectly, receive or contract to receive any commission, compensation, bonus, right or privilege of any kind for organizing any bank or trust company in this state, or for securing a subscription to the original capital stock or surplus of any bank or trust company in this state, or to any increase thereof; provided, that this section shall not be construed as prohibiting an attorney at law from receiving compensation for legal service in connection therewith.
2. Each and every individual, partnership, unincorporated association or corporation violating the provisions of this section shall forfeit to the state one hundred dollars for each and every violation, and in addition thereto double the amount of the commission, compensation or bonus.
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(RSMo 1939 § 7946, A.L. 1967 p. 445)
Prior revisions: 1929 § 5350; 1919 § 11733
---- end of effective 28 Aug 1967 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.070
What does Revised Statutes of Missouri § 362.070 cover?
Section 362.070 ("Compensation for organizing bank or trust company prohibited — penalty.") 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 § 362.070?
A common citation format is "Revised Statutes of Missouri § 362.070" (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 § 362.070 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.