Missouri Revised Statutes

Mo. Rev. Stat. § 361.097 (2026)

Board members, appointment, qualifications, terms

✓ current as of May 2026

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361.097. Board members, appointment, qualifications, terms. — 1. The state banking and savings and loan board shall consist of five members who shall be appointed by the governor, the senate concurring. No person shall be eligible for appointment unless he or she is a resident of this state. One member shall be an attorney at law and a member of the Missouri Bar in good standing. Three members shall each have had at least five years of active bank or association management experience at an institution chartered under chapter 362 or 369 in this state. One member shall be an individual who is not involved in the administration of a financial institution. Not more than three members of the board shall be members of the same political party.

2. The term of office of each member of the state banking and savings and loan board shall be six years. The board shall select its own chairman and secretary. The members of the state banking and savings and loan board shall hold office for the respective terms for which they are appointed and until their successors shall qualify. Vacancies on such board shall be filled by appointment for the unexpired term in the same manner as in the case of an original appointment.

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(L. 1955 p. 263 § 2, A.L. 1967 p. 445, A.L. 2011 H.B. 464, A.L. 2021 S.B. 106)

Notes of Decisions

Cited in 4 cases, 1976–1981 · leading case: Bank of Crestwood v. Gravois Bank, 616 S.W.2d 505 (Mo. 1981).

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Bank of Crestwood v. Gravois Bank, 616 S.W.2d 505 (Mo. 1981). · cites it 6× “No person shall be eligible for appointment unless he shall be a resident of this state.”

Kostman v. Pine Lawn Bank & Trust Co., 540 S.W.2d 72 (Mo. 1976). · cites it 6× “State Banking Board, supra), composed of five members with variable backgrounds and political allegiances (Section 361.097, RSMo 1969), ultimate guardian of the public's interest at the administrative level as opposed to a single individual such as the Commissioner.”

Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977). “The Board of Appeals was replaced by the State Banking Board by enactment of § 361.097 in 1955. 4 . The designation Commissioner of Finance was replaced by Director of Finance in the 1976 statutory revision.”

Farmer's Bank of Antonia v. Kostman, 577 S.W.2d 915 (Mo. Ct. App. 1979). “This repose of special confidence for these purposes in the State Banking Board is evident from the terms of § 361.097 which constitutes the Board from among bankers, lawyers and others from the community as guardians of the public interest at the final administrative level of…”

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