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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

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  362.495.  When payment and withdrawals may be suspended. — Whenever unusual withdrawals from any bank or trust company doing a banking business in this state, organized under the laws of this state are being made, or whenever in the judgment of the president and cashier or president and secretary of such bank or trust company and/or the board of directors thereof, unusual withdrawals are about to be made, such officers and/or directors are hereby authorized to suspend payment of checks of depositors and any and all other withdrawals of assets of such bank or trust company for a period of six banking days.  The board of directors may designate a chief executive officer who is not the president, but who shall perform all the duties of the president required by this section.

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(RSMo 1939 § 8003, A.L. 2001 H.B. 738 merged with S.B. 186)


---- end of effective   28 Aug 2001 ----

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