Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 362.490. Banks exempt from furnishing security for insured deposits

Notwithstanding any provision of law of this state or of any political subdivision thereof requiring security for deposits in the form of collateral, surety bond or in any other form, security for such deposits shall not be required to the extent said deposits are insured under the provisions of an act of congress creating and establishing the Federal Deposit Insurance Corporation  1 or similar agency created and established by the Congress of the United States.