Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 2 - Banks and Trust Companies
Section 20 CSR 1140-2.081 - Legal Loan Limit-Limited Partner ships

Universal Citation: 20 MO Code of State Regs 1140-2.081

Current through Register Vol. 49, No. 18, September 16, 2024

PURPOSE: This amendment fixes an incorrect citation found in section (2).

(1) While loans to general partnerships shall be considered, for legal loan limit purposes, loans to each member of the partnership, this rule does not apply to limited partners in limited partnerships unless limited partners act as general partners by undertaking duties or responsibilities associated with running the business.

(2) This rule shall not be construed to limit attribution which would be set forth by application of 20 CSR 1140-2.080 Legal Loan Limit.

(3) A corporation or other entity serving as a general partner in any limited or general partnership shall be attributed any loan made to or for the benefit of the partnership.

*Original authority: 361.105, RSMo 1967 and 362.170, RSMo 1939, amended 1941, 1943, 1945, 1959, 1963, 1967, 1977, 1981, 1983, 1985, 1986, 1989.

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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