Missouri Revised Statutes

Mo. Rev. Stat. § 362.040 (2026)

Notice of refusal of certificate

✓ current as of May 2026

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362.040. Notice of refusal of certificate — appeal. — In case the director shall not be satisfied, as the result of the examination, that the character, responsibility and general fitness of the persons named in the articles of agreement are up to the standard above provided, or that the convenience and needs of the community to be served justify and warrant the opening of the new bank or trust company therein, or that the probable volume of business in such locality is sufficient to insure and maintain the solvency of the new bank and the solvency of the then existing banks or trust companies in the locality, without endangering the safety of any bank or trust company in the locality as a place of deposit of public and private moneys; and on these accounts or any one of them shall refuse to grant the certificate of incorporation, the director shall forthwith give notice thereof to the proposed incorporators from whom the articles of agreement were received, who, if they so desire, may within ten days thereafter appeal from the refusal to the state banking and savings and loan board.

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(RSMo 1939 § 7942, A.L. 1941 p. 670, A. 1949 H.B. 2085, A.L. 1955 p. 266, A.L. 1967 p. 445, A.L. 2011 H.B. 464)

Prior revisions: 1929 § 5347; 1919 § 11730; 1909 § 1095

Notes of Decisions

Cited in 4 cases, 1976–1981 · leading case: Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977).

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Bank of Belton v. State Banking Bd., 554 S.W.2d 451 (Mo. Ct. App. 1977). · cites it 8× “1971] relied on by the circuit court to deny jurisdiction to the review sought by Belton Bank presents the first statutory incongruity: If the director of finance is not satisfied and denies the application [for facility], the action of the director in granting or denying any…”

Bank of Crestwood v. Gravois Bank, 616 S.W.2d 505 (Mo. 1981). · cites it 6× “) Section 362.040, RSMo 1978, relating to notice of refusal to certificate a new bank contains the "convenience and needs of the community to be served" test in almost identical language as that used in § 362.”

Glasnapp v. State Banking Bd., 545 S.W.2d 382 (Mo. Ct. App. 1976). · cites it 4× “By logical extension, when the Board affirmed the Commissioner’s denial, the incorporators were the parties aggrieved entitled to file a petition for judicial review and to pursue an appeal from the decision adverse to them by the circuit court.”

Bank of Crestwood v. State Banking Bd., 554 S.W.2d 519 (Mo. Ct. App. 1977). · cites it 2× “-107(4) should be read: “[T]he action of the director in granting or denying any such application may be appealed from and be reviewed in the same manner as action by him pursuant to § 362.040 may be appealed from and reviewed.”

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