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BULLET St. Louis City Revised Code Chapter 8.20 Banks, Brokers, Insurance and Bonding Companies

St. Louis City Revised Code (annotated) has been converted to electronic format by the staff of the St. Louis Public Library. This electronic version has been done for the interest and convenience of the user. These are unofficial versions and should be used as unofficial copies.

Official printed copies of St. Louis City Revised Code may be obtained from the Register's Office at the St. Louis City Hall.



Chapter 8.20
Banks, Brokers, Insurance and Bonding Companies

Sections:

8.20.010 Definitions.
8.20.020 License--Required.
8.20.050 Posting license.
8.20.060 To whom licenses prohibited.
8.20.080 Bonding companies.

V.A.M.S.:

362.010--362.520 Banks and banking

423.010--423.080 County licensing of security dealers

375.012--375.916 Insurance companies

8.20.010 Definitions.

For the purpose of this chapter the following words and phrases shall have the meanings respectively ascribed to them unless otherwise specifically provided:

A. "Banks and bankers" means every person, bank, banking company or institution having a place of business where credits are opened in favor of anyone, on time or current deposits, or on collections of money or currency, subject to be repaid or remitted upon drafts, checks or orders, or where money or currency is advanced or loaned on stocks, bonds, bullion, bills of exchange or promissory notes, or where stocks, bonds, bullion, bills of exchange or promissory notes are received for discount or sale.

B. "Financial agent or broker" means every person, other than bankers or banking corporations in the meaning of subsection A., who negotiates, obtains or effects loans of money on real estate security or on collateral security or personal guarantees, or who effects or negotiates for the purchase or sale of stocks, bonds, bills of exchange, bullion, coin money or currency, promissory notes or other securities for themselves or others.

C. "Insurance companies" means every corporation, institution or association, whether organized as a stock company, joint stock company, mutual company or reciprocal organization, or as subscribers operating through an attorney in fact, or as an exchange, association or organization of any character whatever that issues any insurance policy for fire, marine life, mutual or other insurance.
(1948 C. Ch. 13 2: 1960 C. 616.010.)

City Counselor Ops.: 8340, 8983, 9264

8.20.020 License--Required.

No person shall carry on the business of banking or banker, financial agent or broker, or insurance company in this City without having first obtained a license therefor.

This license may, in the discretion of the applicant, be issued for twelve or six months in advance.
(1948 C. Ch. 13 3: 1960 C. 616.020.)

City Counselor Ops.: 9357

McQuillin:

26.123 Loan businesses

26.120 Insurance companies; agents and brokers

8.20.050 Posting license.

All licenses provided for by this chapter shall be posted in the office or place of business of the person to whom the license has been issued.
(1948 C. Ch. 13 6: 1960 C. 616.050.)

8.20.060 To whom licenses prohibited.

No license shall be issued to any person who by the laws of the state is prohibited from engaging in any business named in this chapter.
(1948 C. Ch. 13 7: 1960 C. 616.060.)

8.20.080 Bonding companies.

All bonding companies operating in the city shall pay an annual license tax of two hundred dollars payable on or after the first day of November of each year.
(1948 C. Ch. 13 9: 1960 C. 616.080.)

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