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Missouri Verification of Unrestricted Deposits

Category:
Missouri Statewide - 16th Circuit-Jackson County - Probate
State:
Missouri
Control #:
MO-SKU-1151
Format:
Word
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Description

Verification of Unrestricted Deposits Missouri Verification of Unrestricted Deposits (MUD) is a service provided by the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIP) to verify a depository institution's ability to accept unrestricted deposits. Unrestricted deposits are deposits that are not limited to a certain purpose, such as a savings account or certificate of deposit. The MUD service allows consumers to confirm that a financial institution is state-licensed and has the required capital and liquidity to accept unrestricted deposits. There are two types of Missouri Verification of Unrestricted Deposits: traditional MUD and MUD Plus. Traditional MUD provides a one-time verification of a depository institution's ability to accept unrestricted deposits. MUD Plus provides an ongoing verification of a depository institution's ability to accept unrestricted deposits, including quarterly updates.

Missouri Verification of Unrestricted Deposits (MUD) is a service provided by the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIP) to verify a depository institution's ability to accept unrestricted deposits. Unrestricted deposits are deposits that are not limited to a certain purpose, such as a savings account or certificate of deposit. The MUD service allows consumers to confirm that a financial institution is state-licensed and has the required capital and liquidity to accept unrestricted deposits. There are two types of Missouri Verification of Unrestricted Deposits: traditional MUD and MUD Plus. Traditional MUD provides a one-time verification of a depository institution's ability to accept unrestricted deposits. MUD Plus provides an ongoing verification of a depository institution's ability to accept unrestricted deposits, including quarterly updates.

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