SB 304 - This act makes various changes regarding banking and financial transactions.

A lienholder who repossesses a motor vehicle would no longer be required to notify the Highway Patrol within one hour of towing such vehicle.

BANKS: The limitation on bank relocation and acquisition shall not apply to a national or out-of-state bank that relocates to Missouri so long as such bank had its main office in Missouri prior to January 1, 1997 and moved to a contiguous state. An out-of-state bank and Missouri bank may merge if federal law permits such mergers.

Any bank or trust company shall have the power to make a payment on an account without determining whether there are other interests in such account, unless the bank or trust company is restricted by court order.

COMMERCIAL TRANSACTIONS: The statute of limitations for bringing an action on a loan is increased to ten years, from six years, from the date such loan is due.

Certain fees relating to liens on a debtor's property may be charged to the debtor.

JAMES KLAHR