Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 20 - Association Loans
Section 20 CSR 1140-20.041 - Commercial Loans
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule authorizes associations to make secured or unsecured loans for commercial, corporate, business or agricultural purposes.
(1) An association may originate, invest in, sell, purchase, participate or otherwise deal in loans for commercial, corporate, business or agricultural purposes.
(2) The aggregate amount which an association may invest in commercial loans shall not exceed fifteen percent (15%) of the association's assets or higher percentage as the director may authorize upon application. Further, total commercial loans to one (1) borrower (excluding service corporations and finance subsidiaries of an association) shall not exceed fifteen percent (15%) of an association's unimpaired capital and unimpaired surplus, plus an additional ten percent (10%) for loans fully secured by readily marketable collateral, as set forth in applicable federal regulations. Notwithstanding the provisions of 4 CSR 140-20.025(2), the percentage of assets limitation of this rule shall apply to-
Copies of all referenced federal regulations are available at a cost established by state law to any interested party at the Division of Finance, Room 630, 301 West High Street, Jefferson City, Missouri or the Office of the Secretary of State at a cost established by state law.
*Original authority: 369.144, RSMo 1971, amended 1982, 1983, 1984, 1989, 1994; 369.229, RSMo 1971, amended 1983, 1994; and 369.249, RSMo 1971, amended 1994.
