When used in this chapter, the term:

(1) “Aggregate demand deposits” means the deposit against which reserves must be maintained by banks and trust companies and includes total deposits, all amounts due to banks, bankers and trust companies, the amount due on certified and cashier’s checks, and for unpaid dividends, less the following items:

Terms Used In Missouri Laws 362.010

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bank: means any corporation soliciting, receiving or accepting money, or its equivalent, on deposit as a business, whether the deposit is made subject to check, or is evidenced by a certificate of deposit, a passbook, a note, a receipt, or other writing, and specifically a commercial bank chartered under this chapter or a national bank located in this state. See Missouri Laws 362.010
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Dividend period: means the period from the date as of which the last dividend of any corporation to which this chapter is applicable was declared to the date selected for the declaration of the next dividend. See Missouri Laws 362.010
  • following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Net earnings: means the excess of gross earnings of any corporation to which this chapter is applicable over expenses and losses chargeable against the earnings during any dividend period. See Missouri Laws 362.010
  • person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
  • Population: means population as determined by the last state or federal enumeration. See Missouri Laws 362.010
  • Reserves on deposit: means the reserves against deposits maintained by any corporation pursuant to this chapter in reserve depositaries, or in a federal reserve bank of which the corporation is a member, and not in excess of the amount authorized by this chapter. See Missouri Laws 362.010
  • Reserves on hand: means the reserves against deposits kept in the vault of any individual or corporation pursuant to the provisions of this chapter. See Missouri Laws 362.010
  • State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
  • Surplus: means the excess of assets over liabilities including liability to stockholders. See Missouri Laws 362.010
  • Time deposits: means all deposits, the payment of which cannot legally be required as provided in federal law and regulation. See Missouri Laws 362.010
  • Total reserves: means the aggregate of reserves on hand and reserves on deposit maintained pursuant to the provisions of this chapter. See Missouri Laws 362.010
  • Undivided profits: means the credit balance of the profit and loss account of any corporation to which this chapter is applicable. See Missouri Laws 362.010

(a) Total time deposits;

(b) The amounts due it on demand from banks, bankers and trust companies, other than its reserve depositaries, including foreign exchange balances credited to it and subject to draft;

(c) The excess due it from reserve depositaries over the amount required to maintain its total reserves;

(2) “Assessment” shall be construed as synonymous with the word “forfeiture”;

(3) “Bank” means any corporation soliciting, receiving or accepting money, or its equivalent, on deposit as a business, whether the deposit is made subject to check, or is evidenced by a certificate of deposit, a passbook, a note, a receipt, or other writing, and specifically a commercial bank chartered under this chapter or a national bank located in this state;

(4) “Demand deposits” means deposits, payment of which can legally be required as provided in federal law and regulation;

(5) “Dividend period” means the period from the date as of which the last dividend of any corporation to which this chapter is applicable was declared to the date selected for the declaration of the next dividend; or the period from the date when its corporate existence began to the date as of which the first dividend is declared;

(6) “Net earnings” means the excess of gross earnings of any corporation to which this chapter is applicable over expenses and losses chargeable against the earnings during any dividend period;

(7) “Population” means population as determined by the last state or federal enumeration; or when used in connection with the words “unincorporated village” as determined by the finance commissioner from the best available sources of information, except as otherwise provided in this chapter;

(8) “Reserve depositary” means a bank, trust company or banking corporation approved by the finance director as a depositary for reserves on deposit;

(9) “Reserves on deposit” means the reserves against deposits maintained by any corporation pursuant to this chapter in reserve depositaries, or in a federal reserve bank of which the corporation is a member, and not in excess of the amount authorized by this chapter;

(10) “Reserves on hand” means the reserves against deposits kept in the vault of any individual or corporation pursuant to the provisions of this chapter;

(11) “Stockholder”, unless otherwise qualified, means a person who appears by the books of a stock corporation to be the owner and holder of one or more shares of the stock of the corporation;

(12) “Surplus” means the excess of assets over liabilities including liability to stockholders;

(13) “Surplus fund” means a fund created pursuant to the provisions of this chapter by a bank or trust company from its net earnings or undivided profits, which to the amount specified in this chapter is not available for the payment of dividends and cannot be used for the payment of expenses or losses so long as any corporation has undivided profits;

(14) “Time deposits” means all deposits, the payment of which cannot legally be required as provided in federal law and regulation;

(15) “Total profits” means the total amount of undistributed net earnings of any corporation to which this chapter is applicable from the date of its organization, including such portions of its surplus fund or guaranty fund as have been derived from net earnings or from undivided profits;

(16) “Total reserves” means the aggregate of reserves on hand and reserves on deposit maintained pursuant to the provisions of this chapter;

(17) “Undivided profits” means the credit balance of the profit and loss account of any corporation to which this chapter is applicable.