Missouri § 362.078 - Industrial loan companies and banks prohibited from maintaining facilities for banking purposes, definitions.
Full text of Missouri Revised Statutes of Missouri § 362.078 — Industrial loan companies and banks prohibited from maintaining facilities for banking purposes, definitions., with citation guidance and answers to common questions.
§ 362.078. Industrial loan companies and banks prohibited from maintaining facilities for banking purposes, definitions.
Notwithstanding any other provision of law to the contrary, an industrial loan company or industrial bank is prohibited from establishing or maintaining any deposit production office, loan production office, or one or more bank branches for the purpose of conducting any banking business within this state, whether by de novo charter, branching, or merger with another institution. As used in this section, the terms "industrial loan company" and "industrial bank" include any company chartered under the laws of any state that:
(1) Is insured or regulated by the Federal Deposit Insurance Corporation;
(2) Engages in one or more banking activities; and
(3) Is owned, directly or indirectly, by a commercial entity that is not a bank holding company or a financial holding company subject to regulation under the Federal Bank Holding Company Act of 1956.
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(L. 2006 S.B. 892)
---- end of effective 28 Aug 2006 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.078
What does Revised Statutes of Missouri § 362.078 cover?
Section 362.078 ("Industrial loan companies and banks prohibited from maintaining facilities for banking purposes, definitions.") 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 § 362.078?
A common citation format is "Revised Statutes of Missouri § 362.078" (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 § 362.078 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.