Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1100 - Division of Credit Unions
Chapter 2 - State-Chartered Credit Unions
Section 20 CSR 1100-2.120 - Credit Union Investments: Savings and Loan Associations and Savings Banks

Universal Citation: 20 MO Code of State Regs 1100-2.120

Current through Register Vol. 49, No. 6, March 15, 2024

PURPOSE: This rule establishes the requirements a credit union must meet when investing in federal and state-chartered savings and loan associations and saving banks (see section 370.075(4), RSMo for statutory provisions).

(1) With the statutory limitation of twenty-five percent (25%) of a credit union's capital, surplus and reserve funds, credit unions may invest in accounts of federally insured savings and loan associations and savings banks. Attention is called to the fact that where the investment in any one (1) savings and loan association or savings bank exceeds one hundred thousand dollars ($100,000), all funds in excess of one hundred thousand dollars ($100,000) are uninsured funds. Subsidiary ledgers shall be maintained to detail multiple investment transactions.

*Original authority: 370.100, RSMo 1939, amended 1945, 1945, 1949, 1959, 1967, 1972.

Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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