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Current as of January 01, 2025 | Updated by Findlaw Staff
Whenever the reserve of a bank or trust company shall fall below the amount herein required of it and shall remain so for a period of one week, then the bank or trust company shall not make any new loans, discounts or acceptances, except the discount or purchase of bills of exchange, payable at sight, until it shall have restored its required reserve; provided, however, that if the averages of the daily reserves maintained for any calendar week beginning on Thursday are not less than the averages of the daily reserves required by sections 362.210, 362.213 and 362.215 to be maintained for the week, the bank or trust company shall be deemed to have complied with the requirements of the sections for each day of the week.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 362.230. No new loans until depleted reserves are restored - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-362-230/
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