Missouri § 371.180 - Limitation on lending powers.
Full text of Missouri Revised Statutes of Missouri § 371.180 — Limitation on lending powers., with citation guidance and answers to common questions.
§ 371.180. Limitation on lending powers.
A development finance corporation organized under the provisions of this chapter shall not lend money when credit is readily available elsewhere. Before granting a loan, the directors of the corporation shall endeavor so far as is reasonably possible to ascertain that the first opportunity to grant the loan has been given to the banks, insurance companies and to other lending institutions of the state.
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(L. 1961 p. 157 § 21)
---- end of effective 28 Aug 1961 ----
Frequently Asked Questions About Missouri § 371.180
What does Revised Statutes of Missouri § 371.180 cover?
Section 371.180 ("Limitation on lending powers.") 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 § 371.180?
A common citation format is "Revised Statutes of Missouri § 371.180" (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 § 371.180 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.