Missouri Banking Codes

The House Financial Institutions Committee convened Wednesday afternoon to discuss HB 754, sponsored by Representative Philip Oehlerking (R-Ballwin). The bill updates provisions within the state’s banking code, clarifying current law and providing relief for state charted banks. Specific changes include allowing banks to issue additional shares of stock, allowing banks to use video technology for board meetings, repeals staff loans and accounts at board meetings, waive the requirement to publish the bank call report in the local newspaper if they make it available to the public and clarifies inactive vs. abandoned accounts. Missouri Bankers Association testified in support of the bill. No testimony in opposition was provided.