Missouri State Chartered Bank

Direct Bank Sales - The following powers are available directly by the bank or through a regular bank operating subsidiary. Operating subsidiaries require no approval by or filings with the Division of Finance. Operating subsidiaries are different from the newly authorized "financial subsidiaries" created by Gramm-Leach-Bliley, which are discussed below and have special regulatory requirements.

Credit and Title Insurance Sales - All Missouri state chartered banks can sell credit related insurance, such as credit life insurance and title insurance, in connection with the bank's lending activities.

Insurance Sales from Towns of 5,000 - All Missouri state chartered banks can sell all types of insurance from any office located in a place of 5,000 population or less.

Bank Financial Subsidiary Sales - All Missouri state chartered banks may establish a "financial subsidiary" to sell any type of insurance from any office in any town of greater than 5,000 population. A financial subsidiary is a new type of subsidiary created by Gramm-Leach-Bliley that is subject to certain regulatory requirements, such as capitalization standards and other safety and soundness considerations of the Division.

Third Party Contract for Insurance Sales - All Missouri state chartered banks may contract with a third party which could sell all types of insurance to customers at any office of the institution, regardless of population of the area. The third party could be an unaffiliated entity, an affiliate company or a holding company. These contracts may be subject to certain insider and related entity restrictions, such as 20 CSR 1140-2.051 and Section 23B of the Federal Reserve Act.

Missouri State Chartered Trust Companies and Savings Banks

Direct Sales - All Missouri state chartered trust companies, either depository or nondepository, and Missouri savings banks may sell any type of insurance from any office of the institution, regardless of population of the area. These institutions do not have to create a financial subsidiary to perform these activities, but could use an operating subsidiary if desired.

Third Party Contract for Insurance Sales - All Missouri state chartered trust companies, either depository or nondepository, and savings banks may contract with a third party which could sell all types of insurance to customers at any office of the institution, regardless of population of the area. The third party could be an unaffiliated entity, an affiliate company or a holding company. These contracts may be subject to certain insider and related entity restrictions, such as 20 CSR 1140-2.051 and Sections 23A and 23B of the Federal Reserve Act.