Missouri Revised Statutes

Mo. Rev. Stat. § 362.015 (2026)

No private banks shall be established

✓ current as of May 2026

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362.015. No private banks shall be established — who may incorporate — when. — 1. From and after the passage of this law no private banks shall be established in this state.

2. When authorized by the finance director as provided in section 362.035 any five or more persons who shall have associated themselves by articles of agreement, in writing, as provided by law, for the purpose of establishing a bank or trust company may be incorporated under any name or title designating such business. Such persons may act on behalf of a bank holding company.

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(RSMo 1939 §§ 7939, 7999, A.L. 1967 p. 445, A.L. 1984 H.B. 1373)

Prior revisions: 1929 § 5344; 1919 § 11727; 1909 § 1092

Notes of Decisions

Cited in 2 cases, 1975–1984 · leading case: Bank of Washington v. McAuliffe, 676 S.W.2d 483 (Mo. 1984).

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Bank of Washington v. McAuliffe, 676 S.W.2d 483 (Mo. 1984). · cites it 20× “The Court of Appeals, Eastern District, reversed, finding that a bank holding company was in fact the alter ego for persons listed as incorporators of the proposed bank, and that a bank holding company could not qualify as an incorporator under section 362.015, RSMo 1978. This…”

Mark Twain Cape Girardeau Bank v. State Banking Bd., 528 S.W.2d 443 (Mo. Ct. App. 1975). · cites it 9× “” § 362.015, RSMo. Thus, Chapter 351 explicitly precludes a corporation from being an incorporator, and Chapter 362 does not specifically authorize it.”

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