Missouri § 362.230 - No new loans until depleted reserves are restored.
Full text of Missouri Revised Statutes of Missouri § 362.230 — No new loans until depleted reserves are restored., with citation guidance and answers to common questions.
§ 362.230. No new loans until depleted reserves are restored.
Whenever the reserve of a bank or trust company shall fall below the amount herein required of it and shall remain so for a period of one week, then the bank or trust company shall not make any new loans, discounts or acceptances, except the discount or purchase of bills of exchange, payable at sight, until it shall have restored its required reserve; provided, however, that if the averages of the daily reserves maintained for any calendar week beginning on Thursday are not less than the averages of the daily reserves required by sections 362.210, 362.213 and 362.215 to be maintained for the week, the bank or trust company shall be deemed to have complied with the requirements of the sections for each day of the week.
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(RSMo 1939 § 7957, A.L. 1959 S.B. 194, A.L. 1967 p. 445, A.L. 1972 S.B. 464)
Prior revisions: 1929 § 5362; 1919 § 11745
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 362.230
What does Revised Statutes of Missouri § 362.230 cover?
Section 362.230 ("No new loans until depleted reserves are restored.") 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 § 362.230?
A common citation format is "Revised Statutes of Missouri § 362.230" (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 § 362.230 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.