Section 362.455

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

Effective - 28 Aug 1939   

  362.455.  Rights and privileges of foreign banking corporation under license — effect of revocation. — 1.  When the director shall have issued a license to any such banking corporation, it may engage in the business specified in section 362.435 at the location specified in such license for a period of one year from the date of such license; and such license may, in the discretion of the director, be reissued from year to year upon the payment by such foreign banking corporation of the sum of two hundred and fifty dollars upon each date that such license is reissued.

  2.  No such license shall be transferable or assignable and shall be at all times conspicuously displayed in the place of business specified therein.

  3.  In the event that such license shall have been revoked by the director, as provided in section 362.450, it shall be surrendered to the director within twenty-four hours after such corporation has received written notice of such revocation.

  4.  Whenever the director shall have revoked any such license and shall have taken the action to make such revocation effective specified in section 362.450, all the rights and privileges of such foreign corporation to transact business in this state shall forthwith cease and determine.

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(RSMo 1939 § 7994)

Prior revisions: 1929 § 5398; 1919 § 11777