Missouri § 370.250 - Lien on shares, share certificates, deposits, share draft and checking accounts — effect.
Full text of Missouri Revised Statutes of Missouri § 370.250 — Lien on shares, share certificates, deposits, share draft and checking accounts — effect., with citation guidance and answers to common questions.
§ 370.250. Lien on shares, share certificates, deposits, share draft and checking accounts — effect.
1. A credit union shall have a lien on all shares, share certificates, deposits, deposit certificates, share draft and checking accounts of any member and on the dividends payable thereon, whether jointly or individually held, for, and to the extent of any obligation of the member to the credit union, including, but not limited to, any loan made to the member, any obligation of the member to the credit union as a comaker, cosigner, guarantor or endorser, or any fee, charge, dues or fine, of any kind payable by the member to the credit union.
2. Any lien created pursuant to subsection 1 of this section shall be:
(1) A right of the credit union separate from and in addition to any lien, pledge, security interest or right of set-off the credit union may have created with the member by agreement or otherwise;
(2) Deemed a perfected lien for all shares on deposit at the credit union and the credit union may allow the member to withdraw shares without waiving its lien on any remaining shares.
3. Any share on which a credit union has a lien shall not be subject to garnishment, or other legal process by a creditor.
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(RSMo 1939 § 5532, A.L. 1945 p. 689, A.L. 1994 H.B. 1312)
Prior revision: 1929 § 5090
---- end of effective 28 Aug 1994 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 370.250
What does Revised Statutes of Missouri § 370.250 cover?
Section 370.250 ("Lien on shares, share certificates, deposits, share draft and checking accounts — effect.") 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 § 370.250?
A common citation format is "Revised Statutes of Missouri § 370.250" (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 § 370.250 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.