Section 362.106 "Wild Card " Provisions
Section 362.106(4) RSMo Supp.2001 gives Missouri state banks the same powers as Missouri-based national banks without requiring a Division of Finance regulation. Banks proposing to engage in new activities are required to provide prior notice to the division unless they meet the same conditions and criteria as another bank that has already obtained an approval or no action letter. The commissioner may prohibit or limit an activity he determines is an unsafe or unsound practice.
Click on the authorized activity to view the commissioner's interpretative letter:
Interpretative Letters (PDF)
- Oct. 3, 2001 - Investment in bank premises
- Feb. 5, 2003 - Debt cancellation and suspension agreements
(Related letter dated November 20, 2007) - Nov. 19, 2004 - Bank investment in non-cumulative preferred stock of the Federal Home Loan Mortgage Corporation
- Nov. 10, 2005 - Bank investment in banker's bank
- Nov. 11, 2005 - Notice of shareholder meeting
- Feb. 17, 2006 - Non-majority controlled investment in a mortgage broker and mortgage banking subsidiary
- Dec. 31, 2007 - Bank investment in non-cumulative preferred stock of the Federal National Mortgage Association
- April 3, 2009 - Bank investment in public welfare or community development projects - Interpretive Letter 1-2009
- Dec. 28, 2009 - Bank investment in public welfare or community development projects - Interpretive Letter 2-2009
- May 13, 2011 - Overdraft fees
- July 2, 2012 -Investment in securities for the bank's own account
- Nov. 16, 2012 - Subsidiary and new market tax credits
- Aug. 23, 2013 - Bank Investment in Class A Stock of the Federal Agricultural Mortgage Corporation ("Farmer Mac")
- October 17, 2013 - Bank Investment in purchasing interests in publicly traded mutual funds for the purpose of hedging the Bank's obligations under deferred compensation plans maintained by the Bank for its employees.
- October 30, 2018 - Purchase of real estate and investment in bank premises in excess of 50% of unimpaired capital allowed when
- April 4, 2022 - Notice of member meetings for mutual savings banks
- April 13, 2022 - Permissible Lending Activities Conducted Outside of a Branch
- July 26, 2024 - Waiver Request of ยง362.245 Residency Requirement