Revisor Home

previous nextEffective 28 Aug 2011

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 370back to chapter 370

  370.163.  Suspension of director or officer permitted, when, procedure. — Whenever a director or officer of a credit union, or other person participating in the conduct of the affairs of such credit union, is charged in any information or complaint authorized by a prosecuting attorney or a United States attorney, or in any indictment, with the commission of or participation in a crime involving dishonesty or breach of trust which is punishable by imprisonment for a term exceeding one year under state or federal law, the director may, if continued service or participation by the individual may pose a threat to the interests of the credit union's members or may threaten to impair the confidence in the credit union, by written notice served upon such director, officer, or other person, suspend him or her from office or prohibit him or her from further participation in any manner in the conduct of the affairs of the credit union.  A copy of such notice shall also be served upon the credit union.  Such suspension or prohibition shall remain in effect until such information, indictment or complaint is finally disposed of or until terminated by the director.  In the event that a judgment of conviction with respect to such crime is entered against such director, officer, or other person, and at such time as such judgment is not subject to further appellate review, the director may, if continued service or participation by the individual may pose a threat to the interests of the credit union's members or may threaten to impair public confidence in the credit union, initiate action to remove such officer as described in subsection 1 of section 370.157.

­­--------

(L. 2011 S.B. 306)


< end of effective 28 Aug 2011 >

use this link to bookmark section 370.163


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

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House
 Errors / suggestions - WebMaster@LR.mo.gov 
Marie Elizabeth Oliver
History and Fun Facts
 ©Missouri Legislature, all rights reserved.
google bing

 5