Missouri § 362.120 - Capital notes may be issued and sold by banks and trust companies.
Full text of Missouri Revised Statutes of Missouri § 362.120 — Capital notes may be issued and sold by banks and trust companies., with citation guidance and answers to common questions.
§ 362.120. Capital notes may be issued and sold by banks and trust companies.
1. Any bank or trust company organized under the laws of this state may, through action of its board of directors and without requiring any action by stockholders, with the written consent of the finance director, issue and sell at not less than par its capital notes.
2. If, at the time of the issuance of such capital notes the capital of such bank or trust company is impaired, and there shall have been issued and sold capital notes of such bank or trust company in accordance with the provisions of sections 362.120 to 362.135, in an amount equal to or more than the impairment of the capital of such bank or trust company, as found by the director of finance, then the capital of such bank or trust company shall for all purposes be deemed to be restored and unimpaired.
3. Such capital notes may be sold for cash or, with the written consent and approval of the director of finance, for property and they shall be of a nature specified in, and conform to, the requirements of the several provisions of sections 362.120 to 362.135.
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(RSMo 1939 § 7906)
Prior revision: 1929 § 5312
---- end of effective 28 Aug 1939 ----
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Effective dates prior to 1940 may not be the actual effective date. See FAQ 'When do laws become effective?'
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.120
What does Revised Statutes of Missouri § 362.120 cover?
Section 362.120 ("Capital notes may be issued and sold by banks and trust companies.") 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 § 362.120?
A common citation format is "Revised Statutes of Missouri § 362.120" (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 § 362.120 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.