Missouri § 362.220 - Agreements to pay time deposit before maturity prohibited — penalty.
Full text of Missouri Revised Statutes of Missouri § 362.220 — Agreements to pay time deposit before maturity prohibited — penalty., with citation guidance and answers to common questions.
§ 362.220. Agreements to pay time deposit before maturity prohibited — penalty.
Any director, officer or employee of a bank or trust company who makes any agreement, express or implied, before or at the time of issuing a certificate of deposit by which its holder may demand or receive payment thereof in advance of its maturity, or who before or at the time of receiving a savings deposit makes an agreement, express or implied, by which the holder of the savings passbook may demand or receive payment of the savings deposit in advance of the time provided for payment under the rules and regulations under which the savings deposit was received, shall forfeit and pay the sum of one hundred dollars for each violation of this provision, to be collected as provided for in this chapter.
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(RSMo 1939 § 7955, A.L. 1945 p. 932, A. 1949 H.B. 2085, A.L. 1967 p. 445)
Prior revisions: 1929 § 5360; 1919 § 11743
---- end of effective 28 Aug 1967 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.220
What does Revised Statutes of Missouri § 362.220 cover?
Section 362.220 ("Agreements to pay time deposit before maturity 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 § 362.220?
A common citation format is "Revised Statutes of Missouri § 362.220" (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 § 362.220 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.