Missouri § 362.310 - Surplus fund — composition — purposes.
Full text of Missouri Revised Statutes of Missouri § 362.310 — Surplus fund — composition — purposes., with citation guidance and answers to common questions.
§ 362.310. Surplus fund — composition — purposes.
Every bank and trust company shall create a fund to be known as a "surplus fund". This fund may be created or increased by contributions or by transfers from undivided profits. The fund up to forty percent of the capital of the bank or trust company shall be used only for the payment of losses in excess of undivided profits; provided, that the excess of surplus over forty percent, upon the approval of the director of finance, may be capitalized as a stock dividend or may be transferred to undivided profits and used for cash dividends in the discretion of the board of directors.
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(RSMo 1939 § 7970, A.L. 1967 p. 445, A.L. 2005 H.B. 707)
Prior revisions: 1929 § 5375; 1919 § 11758
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Frequently Asked Questions About Missouri § 362.310
What does Revised Statutes of Missouri § 362.310 cover?
Section 362.310 ("Surplus fund — composition — purposes.") 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 § 362.310?
A common citation format is "Revised Statutes of Missouri § 362.310" (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 § 362.310 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.