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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

previous next Effective - 01 Jan 1999, see footnotebottom

  362.250.  Oath of directors to be subscribed and certified — to be filed by director — penalty. — 1.  Every person elected director of a bank or trust company shall, within thirty days after election, qualify himself as director by filing with the officers of the bank or trust company an oath that he will, so far as the duty devolves on him, diligently and honestly administer the affairs of the bank or trust company, and will not knowingly violate, or willingly permit to be violated, any of the provisions of law applicable to the bank or trust company.

  2.  The oath shall be subscribed by the director making it, and certified by an officer authorized by law to administer oaths, and the fact of the oath having been made and filed with the officers of the bank or trust company shall be noted on the records of the acts of the directors.

  3.  The oath, subscribed by the director making it, and certified by the officer before whom it is taken, shall be immediately transmitted to the director of finance and shall be filed and preserved in his office.

  4.  Failure to comply with this provision within the time specified shall work a forfeiture of the position; provided, however, that the director of finance may, for cause deemed sufficient by him, extend the time; and when any vacancy occurs by this failure the board of directors shall, at the next regular meeting thereafter, enter the fact of the vacancy upon their records and promptly proceed to elect some competent person to fill the vacancy for the unexpired term.

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(RSMo 1939 § 7959, A.L. 1967 p. 445, A.L. 1977 S.B. 420, A.L. 1989 H.B. 346, A.L. 1998 S.B. 852 & 913)

Prior revisions: 1929 § 5364; 1919 § 11747

Effective 1-01-99


---- end of effective   01 Jan 1999 ----

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