Section 361.270

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 361

Effective - 28 Aug 1939   

  361.270.  Report to attorney general and action by him in certain cases. — 1.  If any director or officer or employee of any corporation subject to the provisions of this chapter has abused his trust or been guilty of misconduct or malversation in his official position or employment injurious to the institution, the director may, in his discretion, communicate the facts to the attorney general, who shall thereupon institute such proceedings as the nature of the case may require.

  2.  Such proceedings may be for an order for the removal of one or more of the officers or members of the board of directors, or for any other remedy suggested by the conditions discovered to the court; and the court, or judge thereof in vacation, before whom such proceedings shall be instituted, shall have power forthwith to grant such orders, and in its or his discretion, from time to time, to modify or revoke the same and to grant such relief as the evidence, situation of the parties and the interest involved shall seem to require.

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(RSMo 1939 § 7905)

Prior revisions: 1929 § 5311; 1919 § 11699