Missouri Laws > Title XXIV > Chapter 362 > § 362.425 - Use of sign or words indicating bank by unauthorized persons prohibited
Current as of: 2009
362.425. 1. No person, except a national bank, a federal reserve bank, or a corporation duly authorized by the director to transact a banking business in this state, shall make use of any office sign at the place where the business is transacted having thereon any artificial or corporate name, or other words indicating that the place or office is the place or office of a bank; nor shall the person or persons make use of or circulate any letterheads, billheads, blank forms, notes, receipts, certificates, circulars, or any written or printed or partly written and partly printed paper whatever, having thereon any artificial or corporate name, or other word or words, indicating that the business is the business of a bank.
2. No person, association, firm or corporation, other than a corporation authorized by the laws of this state to do the business of a trust company and subject to the supervision of the director as provided by law, shall make use of the words "trust company" as part of any artificial or corporate name or title, nor make use of any sign at the place where his or its business is transacted, having thereon these words or any other words or word indicating that the place or office is the place or office of a trust company, nor make use of or circulate any written or printed, or partly printed, matter whatever having thereon these words or any other word or other words indicating that the business conducted is that of a trust company, nor transact business in such way or manner as to lead the public to believe or as in the opinion of the director might lead the public to believe that his or its business is that of a trust company, excepting banks who may be lawfully exercising trust company powers.
3. Every person violating the provisions of this section, either as an individual or an interested party in any association, firm or corporation, shall be punished by a fine of not less than one hundred dollars nor more than one thousand dollars and a further fine of fifty dollars per day for each day after written notice of the violation.
4. The director shall have authority to examine the accounts, books and papers of any person, association, firm or corporation who he has reason to suspect is violating the provisions of this section and to summon and examine under oath, which he is empowered to administer, any person who he may have reason to believe has violated or is a participant in any violation of the provisions of this section.
(RSMo 1939 § 7991, A.L. 1967 p. 445) Prev | Next
Prior revisions: 1929 § 5395; 1919 § 11774
Questions & Answers: BankingSee also:
U.S. Code Provisions: Banking
Federal Regulations: Banking