Missouri § 362.415 - Prohibitions against encroachments upon certain powers of banks.
Full text of Missouri Revised Statutes of Missouri § 362.415 — Prohibitions against encroachments upon certain powers of banks., with citation guidance and answers to common questions.
§ 362.415. Prohibitions against encroachments upon certain powers of banks.
1. No person unauthorized by law shall subscribe to or become a member of, or be in any way interested in any association, institution or company formed or to be formed for the purpose of issuing notes or other evidences of debt to be loaned or put in circulation as money; nor shall any such person subscribe to or become in any way interested in any bank or fund created or to be created for the like purposes or either of them.
2. No corporation, domestic or foreign, other than a national bank or a federal reserve bank, unless expressly authorized by the laws of this state, shall employ any part of its property, or be in any way interested in any fund which shall be employed for the purpose of receiving deposits, making discounts, or issuing notes or other evidences of debt to be loaned or put into circulation as money.
3. All notes and other securities for the payment of any money or the delivery of any property made or given to any such association, institution or company, or made or given to secure the payment of any money loaned or discounted by any corporation or its officers contrary to the provisions of this section shall be void.
4. No person, association of persons or corporation, unless expressly authorized by law, shall keep any office for the purpose of issuing any evidences of debt, to be loaned or put in circulation as money; nor shall they issue any bills or promissory notes or other evidences of debt for the purpose of loaning them or putting them in circulation as money, unless thereto specially authorized by law.
5. Every person, and every corporation, director, agent, officer or member thereof, who shall violate any provision of this section, directly or indirectly, or assent to such violation, shall forfeit one thousand dollars to the state.
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(RSMo 1939 § 7990)
Prior revisions: 1929 § 5394; 1919 § 11773
---- 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 § 362.415
What does Revised Statutes of Missouri § 362.415 cover?
Section 362.415 ("Prohibitions against encroachments upon certain powers of banks.") 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 § 362.415?
A common citation format is "Revised Statutes of Missouri § 362.415" (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 § 362.415 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.