369.144. Each association incorporated pursuant to oroperating under the provisions of sections 369.010 to 369.369 hasall the powers enumerated, authorized, and permitted by sections369.010 to 369.369 and such other rights, privileges, and powersas may be incidental to or reasonably necessary to exercise suchpowers granted herein. Among others, and except as otherwiselimited by the provisions of sections 369.010 to 369.369, eachassociation has the following powers:
(1) To have perpetual existence; to adopt and use acorporate seal, which may be affixed by imprint, facsimile, orotherwise; and to adopt and amend bylaws as provided in sections369.010 to 369.369;
(2) To sue and be sued, complain and defend in any court oflaw or equity;
(3) To acquire, hold, sell, dispose of and convey real andpersonal property; and to mortgage, pledge, or lease any real orpersonal property in the exercise of the powers granted herein;provided, however, that such leasing activities are limited tothe extent permitted a federal association;
(4) To borrow from sources, individual or corporate. Allsuch loans and advances may be secured by property of theassociation, and may be evidenced by such notes, bonds,debentures, or other obligations or securities as the director ofthe division of finance may authorize for all associations;
(5) To obtain and maintain insurance of its accounts by theFederal Deposit Insurance Corporation or any successor thereto,or by any agency of this state insuring accounts in associations,or by any other insurer approved by the director of the divisionof finance, and may comply with conditions necessary to obtainand maintain such insurance;
(6) To qualify as and become a member of a Federal HomeLoan Bank;
(7) In addition to the powers and authorities granted inthis section, the director of the division of finance may, fromtime to time, with the approval of the commission, issueregulations granting such other powers and authorities as havebeen granted to federal associations subject to the supervisionof the Office of Thrift Supervision or any successor theretowhich are necessary to enable associations to compete. Theregulations shall be promulgated as provided in this chapter andshall not be inconsistent with the constitution and laws of thisstate;
(8) To appoint officers, agents, and employees as itsbusiness shall require and to provide them suitable compensation;to enter into employment contracts not to exceed five years induration; to provide for life, health and casualty insurance forofficers, employees and directors who are not officers, and toadopt and operate reasonable bonus plans, retirement benefits anddeferred compensation plans for such officers and employees; toadopt and operate stock option and similar incentive compensationprograms by capital stock associations; and to provide forindemnification of its officers, employees and directors asprescribed or permitted by sections 369.010 to 369.369 whether byinsurance or otherwise;
(9) To become a member of, deal with, or make reasonablepayments or contributions to any organization to the extent thatsuch organization assists in furthering or facilitating theassociation's purposes, powers or community responsibilities, andto comply with any reasonable conditions of eligibility;
(10) To sell money orders, travel checks and similarinstruments drawn by it on its commercial bank accounts, accountsit has with the district Federal Home Loan Bank or as agent forany organization empowered to sell such instruments throughagents within the state;
(11) When an association is a member of a Federal Home LoanBank, to act as fiscal agent of the United States, and, when sodesignated by the Secretary of the Treasury, to perform, undersuch regulations as the Secretary may prescribe, all suchreasonable duties as fiscal agents for the United States as theSecretary may require; and to act as agent for anyinstrumentality of the United States and as agent of this stateor any instrumentality thereof;
(12) To service loans and investments for others;
(13) When an association is insured, to act as trustee ofany trust created or organized in the United States and formingpart of a stock bonus, pension, or profit-sharing plan whichqualifies or qualified for specific tax treatment under section401(d) of the Internal Revenue Code of 1954 as amended, if thefunds of such trust are invested only in accounts or deposits insuch association or in obligations or securities issued by suchassociation. All funds held in such fiduciary capacity by anysuch association may be commingled for appropriate purposes ofinvestment, but individual records shall be kept by the fiduciaryfor each participant and shall show in proper detail alltransactions engaged in under the authority of this subdivision;
(14) To act as agent for others in any transactionincidental to the operation of its business;
(15) To accept deposits, and to lend and invest its fundsas provided in sections 369.010 to 369.369;
(16) To use abbreviations, words or symbols in connectionwith any document of any nature and on checks, proxies, noticesand other instruments, which abbreviations, words, or symbolsshall have the same force and legal effect as though therespective words and phrases for which they stand were set forthin full;
(17) To act as custodian or keeper of microfilm records ofother savings associations or place microfilm records of theassociation for storage and safekeeping with another association;
(18) To make donations in reasonable amounts for the publicwelfare or for charitable, scientific, religious, or educationalpurposes;
(19) To act as agent for any electric, gas, water,telephone or other public utility company operating within thisstate in receiving moneys due such company for utility servicesfurnished by such company;
(20) To enter into agreements with others to supply dataprocessing services and for the use of data processing equipmentowned or controlled by the association.
369.144. Each association incorporated pursuant to oroperating under the provisions of sections 369.010 to 369.369 hasall the powers enumerated, authorized, and permitted by sections369.010 to 369.369 and such other rights, privileges, and powersas may be incidental to or reasonably necessary to exercise suchpowers granted herein. Among others, and except as otherwiselimited by the provisions of sections 369.010 to 369.369, eachassociation has the following powers:
(1) To have perpetual existence; to adopt and use acorporate seal, which may be affixed by imprint, facsimile, orotherwise; and to adopt and amend bylaws as provided in sections369.010 to 369.369;
(2) To sue and be sued, complain and defend in any court oflaw or equity;
(3) To acquire, hold, sell, dispose of and convey real andpersonal property; and to mortgage, pledge, or lease any real orpersonal property in the exercise of the powers granted herein;provided, however, that such leasing activities are limited tothe extent permitted a federal association;
(4) To borrow from sources, individual or corporate. Allsuch loans and advances may be secured by property of theassociation, and may be evidenced by such notes, bonds,debentures, or other obligations or securities as the director ofthe division of finance may authorize for all associations;
(5) To obtain and maintain insurance of its accounts by theFederal Deposit Insurance Corporation or any successor thereto,or by any agency of this state insuring accounts in associations,or by any other insurer approved by the director of the divisionof finance, and may comply with conditions necessary to obtainand maintain such insurance;
(6) To qualify as and become a member of a Federal HomeLoan Bank;
(7) In addition to the powers and authorities granted inthis section, the director of the division of finance may, fromtime to time, with the approval of the commission, issueregulations granting such other powers and authorities as havebeen granted to federal associations subject to the supervisionof the Office of Thrift Supervision or any successor theretowhich are necessary to enable associations to compete. Theregulations shall be promulgated as provided in this chapter andshall not be inconsistent with the constitution and laws of thisstate;
(8) To appoint officers, agents, and employees as itsbusiness shall require and to provide them suitable compensation;to enter into employment contracts not to exceed five years induration; to provide for life, health and casualty insurance forofficers, employees and directors who are not officers, and toadopt and operate reasonable bonus plans, retirement benefits anddeferred compensation plans for such officers and employees; toadopt and operate stock option and similar incentive compensationprograms by capital stock associations; and to provide forindemnification of its officers, employees and directors asprescribed or permitted by sections 369.010 to 369.369 whether byinsurance or otherwise;
(9) To become a member of, deal with, or make reasonablepayments or contributions to any organization to the extent thatsuch organization assists in furthering or facilitating theassociation's purposes, powers or community responsibilities, andto comply with any reasonable conditions of eligibility;
(10) To sell money orders, travel checks and similarinstruments drawn by it on its commercial bank accounts, accountsit has with the district Federal Home Loan Bank or as agent forany organization empowered to sell such instruments throughagents within the state;
(11) When an association is a member of a Federal Home LoanBank, to act as fiscal agent of the United States, and, when sodesignated by the Secretary of the Treasury, to perform, undersuch regulations as the Secretary may prescribe, all suchreasonable duties as fiscal agents for the United States as theSecretary may require; and to act as agent for anyinstrumentality of the United States and as agent of this stateor any instrumentality thereof;
(12) To service loans and investments for others;
(13) When an association is insured, to act as trustee ofany trust created or organized in the United States and formingpart of a stock bonus, pension, or profit-sharing plan whichqualifies or qualified for specific tax treatment under section401(d) of the Internal Revenue Code of 1954 as amended, if thefunds of such trust are invested only in accounts or deposits insuch association or in obligations or securities issued by suchassociation. All funds held in such fiduciary capacity by anysuch association may be commingled for appropriate purposes ofinvestment, but individual records shall be kept by the fiduciaryfor each participant and shall show in proper detail alltransactions engaged in under the authority of this subdivision;
(14) To act as agent for others in any transactionincidental to the operation of its business;
(15) To accept deposits, and to lend and invest its fundsas provided in sections 369.010 to 369.369;
(16) To use abbreviations, words or symbols in connectionwith any document of any nature and on checks, proxies, noticesand other instruments, which abbreviations, words, or symbolsshall have the same force and legal effect as though therespective words and phrases for which they stand were set forthin full;
(17) To act as custodian or keeper of microfilm records ofother savings associations or place microfilm records of theassociation for storage and safekeeping with another association;
(18) To make donations in reasonable amounts for the publicwelfare or for charitable, scientific, religious, or educationalpurposes;
(19) To act as agent for any electric, gas, water,telephone or other public utility company operating within thisstate in receiving moneys due such company for utility servicesfurnished by such company;
(20) To enter into agreements with others to supply dataprocessing services and for the use of data processing equipmentowned or controlled by the association.
369.144. Each association incorporated pursuant to oroperating under the provisions of sections 369.010 to 369.369 hasall the powers enumerated, authorized, and permitted by sections369.010 to 369.369 and such other rights, privileges, and powersas may be incidental to or reasonably necessary to exercise suchpowers granted herein. Among others, and except as otherwiselimited by the provisions of sections 369.010 to 369.369, eachassociation has the following powers:
(1) To have perpetual existence; to adopt and use acorporate seal, which may be affixed by imprint, facsimile, orotherwise; and to adopt and amend bylaws as provided in sections369.010 to 369.369;
(2) To sue and be sued, complain and defend in any court oflaw or equity;
(3) To acquire, hold, sell, dispose of and convey real andpersonal property; and to mortgage, pledge, or lease any real orpersonal property in the exercise of the powers granted herein;provided, however, that such leasing activities are limited tothe extent permitted a federal association;
(4) To borrow from sources, individual or corporate. Allsuch loans and advances may be secured by property of theassociation, and may be evidenced by such notes, bonds,debentures, or other obligations or securities as the director ofthe division of finance may authorize for all associations;
(5) To obtain and maintain insurance of its accounts by theFederal Deposit Insurance Corporation or any successor thereto,or by any agency of this state insuring accounts in associations,or by any other insurer approved by the director of the divisionof finance, and may comply with conditions necessary to obtainand maintain such insurance;
(6) To qualify as and become a member of a Federal HomeLoan Bank;
(7) In addition to the powers and authorities granted inthis section, the director of the division of finance may, fromtime to time, with the approval of the commission, issueregulations granting such other powers and authorities as havebeen granted to federal associations subject to the supervisionof the Office of Thrift Supervision or any successor theretowhich are necessary to enable associations to compete. Theregulations shall be promulgated as provided in this chapter andshall not be inconsistent with the constitution and laws of thisstate;
(8) To appoint officers, agents, and employees as itsbusiness shall require and to provide them suitable compensation;to enter into employment contracts not to exceed five years induration; to provide for life, health and casualty insurance forofficers, employees and directors who are not officers, and toadopt and operate reasonable bonus plans, retirement benefits anddeferred compensation plans for such officers and employees; toadopt and operate stock option and similar incentive compensationprograms by capital stock associations; and to provide forindemnification of its officers, employees and directors asprescribed or permitted by sections 369.010 to 369.369 whether byinsurance or otherwise;
(9) To become a member of, deal with, or make reasonablepayments or contributions to any organization to the extent thatsuch organization assists in furthering or facilitating theassociation's purposes, powers or community responsibilities, andto comply with any reasonable conditions of eligibility;
(10) To sell money orders, travel checks and similarinstruments drawn by it on its commercial bank accounts, accountsit has with the district Federal Home Loan Bank or as agent forany organization empowered to sell such instruments throughagents within the state;
(11) When an association is a member of a Federal Home LoanBank, to act as fiscal agent of the United States, and, when sodesignated by the Secretary of the Treasury, to perform, undersuch regulations as the Secretary may prescribe, all suchreasonable duties as fiscal agents for the United States as theSecretary may require; and to act as agent for anyinstrumentality of the United States and as agent of this stateor any instrumentality thereof;
(12) To service loans and investments for others;
(13) When an association is insured, to act as trustee ofany trust created or organized in the United States and formingpart of a stock bonus, pension, or profit-sharing plan whichqualifies or qualified for specific tax treatment under section401(d) of the Internal Revenue Code of 1954 as amended, if thefunds of such trust are invested only in accounts or deposits insuch association or in obligations or securities issued by suchassociation. All funds held in such fiduciary capacity by anysuch association may be commingled for appropriate purposes ofinvestment, but individual records shall be kept by the fiduciaryfor each participant and shall show in proper detail alltransactions engaged in under the authority of this subdivision;
(14) To act as agent for others in any transactionincidental to the operation of its business;
(15) To accept deposits, and to lend and invest its fundsas provided in sections 369.010 to 369.369;
(16) To use abbreviations, words or symbols in connectionwith any document of any nature and on checks, proxies, noticesand other instruments, which abbreviations, words, or symbolsshall have the same force and legal effect as though therespective words and phrases for which they stand were set forthin full;
(17) To act as custodian or keeper of microfilm records ofother savings associations or place microfilm records of theassociation for storage and safekeeping with another association;
(18) To make donations in reasonable amounts for the publicwelfare or for charitable, scientific, religious, or educationalpurposes;
(19) To act as agent for any electric, gas, water,telephone or other public utility company operating within thisstate in receiving moneys due such company for utility servicesfurnished by such company;
(20) To enter into agreements with others to supply dataprocessing services and for the use of data processing equipmentowned or controlled by the association.
