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Current as of January 01, 2025 | Updated by Findlaw Staff
Any director, officer or employee of a bank or trust company who makes any agreement, express or implied, before or at the time of issuing a certificate of deposit by which its holder may demand or receive payment thereof in advance of its maturity, or who before or at the time of receiving a savings deposit makes an agreement, express or implied, by which the holder of the savings passbook may demand or receive payment of the savings deposit in advance of the time provided for payment under the rules and regulations under which the savings deposit was received, shall forfeit and pay the sum of one hundred dollars for each violation of this provision, to be collected as provided for in this chapter.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 362.220. Agreements to pay time deposit before maturity prohibited--penalty - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-362-220/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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