369.049. Name shall include what, exceptions--prohibited words and phrases.
Name shall include what, exceptions--prohibited words and phrases.
369.049. 1. The name of every association shall includeeither the words "Savings Association", or "Savings and LoanAssociation", except for associations domiciled in Missouri atthe time sections 369.010 to 369.369 become law that use in theirname "Building and Loan Association" or "Loan and BuildingAssociation". No name shall be used which is likely to misleadthe public as to the character or purpose of the association orwhich indicates it is authorized to perform an act or conduct anybusiness which is forbidden to it by law. The name of theassociation shall not include the words, "National", "Federal","United States", "Insured", "Guaranteed", "Government", or"Official". The name of the association shall not be the same asnor deceptively similar to that of any other corporationauthorized to transact business in this state, except in the caseof an association formed by the reincorporation, reorganization,or consolidation of other associations, or upon the sale of theproperty or business of an association.
2. Notwithstanding the provisions of sections 362.421 and362.425, RSMo, any association may amend its charter to changeits name or in the case of a new charter, may adopt a name, whichincludes the words "Savings Bank", in lieu of the words "Savingsand Loan Association" or "Savings Association". For purposes ofthis chapter, the term "association" shall include savings banks.The procedure for adopting the name "savings bank" shall be asprovided in section 369.059.
3. No person, firm, or corporation, either domestic orforeign, unless authorized to do business in this state under theprovisions of sections 369.010 to 369.369 shall do business underany name or title which indicates or reasonably implies that thebusiness is the character or kind of business carried on ortransacted by an association or which is likely to lead anyperson to believe that the business is that of an association.Upon application by the director of the division of finance orany association, a court of competent jurisdiction may issue aninjunction to restrain any such entity from violating orcontinuing to violate any of the foregoing provisions of thissubsection.
(L. 1971 S.B. 3 § 9, A.L. 1990 H.B. 1456, A.L. 1994 H.B. 1165)Effective 7-6-94