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Can you summarize MORS 362.336?
Banks and Trust Companies > Fraudulent checks and drafts issued by bank or agent penalty.
Short Summary
This provision, found in the Revised Statutes of Missouri under the section for Banks and Trust Companies, governs the issuance of fraudulent checks and drafts by banks or their agents. It prohibits banks and trust companies from issuing certificates of deposit, certifying checks or drafts, or issuing cashier’s or treasurer’s checks, except in exchange for lawful money of the United States or for checks, drafts, or bills of exchange that are the actual equivalent of such money. If any president, director, officer, employee, or agent of a bank or trust company issues a certificate of deposit, certifies a check or draft, or issues a cashier’s or treasurer’s check without receiving the required money or its equivalent, or sells a certificate of deposit of the bank at a discount exceeding the legal rate of interest, they will be guilty of a felony. The penalties for such offenses include imprisonment in the penitentiary for a minimum of two years and a maximum of five years, or imprisonment in the county jail for up to one year, or a fine of up to one thousand dollars, or both.
Whom does it apply to?
Banks and trust companies
What does it govern?
Fraudulent checks and drafts issued by bank or agent
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Imprisonment in the penitentiary for not less than two years nor more than five years or imprisonment in the county jail for not exceeding one year, or a fine not exceeding one thousand dollars, or both.
Jurisdiction
Missouri