To amend chapter 362, RSMo, by adding one new section relating to certain banking practices, with a termination date.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF MISSOURI, AS FOLLOWS:

Section A. Chapter 362, RSMo, is amended by adding thereto one new section to be known as section 362.109, to read as follows:

362.109. 1. Pursuant to section 44(a)(2) of the Federal Deposit Insurance Act, 12 U.S.C. 1811, et seq., the state of Missouri expressly opts out of and prohibits de novo and acquisition interstate branch banking.

2. Pursuant to section 44(a)(2) of the Federal Deposit Insurance Act, 12 U.S.C. 1811, et seq., a merger transaction involving either a Missouri chartered bank or a national bank, the main office of which is located in Missouri, and an out-of-state bank, is expressly prohibited.

3. Pursuant to section 44(a)(2) of the Federal Deposit Insurance Act, 12 U.S.C. 1811, et seq., an out-of-state bank may not establish a de novo branch in Missouri or acquire a branch in Missouri by purchase or by other means.

4. Pursuant to section 44(a)(2) of the Federal Deposit Insurance Act, 12 U.S.C. 1811, et seq., a Missouri chartered bank or a national bank which has its main office located in Missouri may not establish a de novo branch in a state other than Missouri or acquire a branch in a state other than Missouri by purchase or by other means.

5. As used in this section, the term "out-of-state bank" means a bank that is:

(1) A national bank having its main office located in a state other than Missouri; or

(2) A state-chartered bank chartered by a state other than Missouri.

6. The provisions of this section shall terminate on August 28, 1999.