As used in sections 374.300 to 374.310, “financial institution” means any bank, bank holding company, sales finance company, consumer finance company,
credit union, insurance company, lender as that term is defined in subdivision (3) of section 367.100, savings and loan association, savings and loan association holding company, savings
and loan association service corporation, company operating under the mortgage brokerage
laws of this state, or any subsidiary of any of the foregoing. This definition shall not, however, include any financial institution which has
been granted an exemption by the Board of Governors of the Federal Reserve System
pursuant to Section 4(d) of the Federal Bank Holding Company Act of 1956, 1 as amended, or any financial institution which neither owns more than ten percent
of the capital stock nor exercises effective control of a bank, savings and loan association
or entity licensed under the mortgage brokerage laws of this state, which is licensed
or authorized to transact business in this state.
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 or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.