☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 370

< > Effective - 28 Aug 1994, 2 histories, see footnote (history) bottom

  370.340.  Expulsion and withdrawal of members, expelled member's right to hearing — refunds. — 1.  At any regularly called meeting the members, by a two-thirds vote of those present, may expel from the credit union any member thereof.

  2.  A member may withdraw from a credit union, as herein provided, by filing a written notice of such intention.

  3.  The board of directors may expel a member pursuant to a written policy adopted by it.  Any person expelled by the board shall have the right to request a hearing before the board to reconsider the expulsion.

  4.  The share balance of an expelled or withdrawing member, with any dividends credited to his shares to the date of expulsion, or withdrawal, shall be paid to said member but only as funds therefor become available, and, after deducting any amounts due to the credit union by said member.  The share balance of an expelled or withdrawing member, with any dividends credited to his shares, shall be paid to such member, subject to sixty days' notice, and after deducting any amounts due to the credit union by said member.

  5.  Said member, when withdrawing shares, shall have no further right in said credit union or to any of its benefits, but such expulsion or withdrawal shall not operate to relieve such member from any remaining liability to the credit union.

­­--------

(RSMo 1939 § 5539, A.L. 1945 p. 689, A.L. 1994 H.B. 1312)

Prior revision: 1929 § 5097


---- end of effective  28 Aug 1994 ----

use this link to bookmark section  370.340


 - All versions
Effective End
370.340 8/28/2020
370.340 8/28/1994 8/28/2020

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House