Mo. Rev. Stat. ch. 361 – Division of Finance and Powers of Director of Finance | Midpage

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Revised Statutes of Missouri

Chapter 361

Mo. Rev. Stat. ch. 361

Division of Finance and Powers of Director of Finance

361.005Definitions, chapters 361, 362, and 369 361.010Division of finance created — location of office — transfer of division 361.020Powers of division 361.030Seal — recording of documents 361.040Director — appointment — term of office 361.050Director — qualifications 361.060Deputy director — appointment — qualifications — duties 361.070Director and employees — oath — bond — prohibited acts — professional conduct policy — powers of director 361.080Confidential information — exceptions — penalty for disclosure 361.090Compensation and travel expenses, how paid 361.092State banking and savings and loan board created 361.093Board to advise and recommend 361.094Board to determine appeals — procedure — hearing officer authorized 361.095Procedure on appeals — costs — parties — judicial review 361.096Board may subpoena witnesses at hearings — oaths — enforcement of subpoena or testimony 361.097Board members, appointment, qualifications, terms 361.098Board members, compensation — quorum of board — meetings — seal 361.100Deposits in state treasury 361.1002Surety bond 361.1005Maintenance of permissible investments 361.1008Types of permissible investments 361.1011Enforcement 361.1014Suspension and revocation of authorized delegates 361.1017Orders to cease and desist 361.1020Consent orders 361.1023Criminal penalties 361.1026Civil penalties 361.1029Unlicensed persons 361.1032Uniformity of application and construction 361.1035Transition period 361.105Director of finance authorized to issue rules with approval of state banking and savings and loan board — rulemaking procedure 361.106Bulletins and industry letters — definitions — issued when — written request, contents — confidentiality — publication of letters, when 361.110Report of work of division, contents — retention of statements 361.1100Citation — definitions — virtual currency kiosk information, confidentiality — compliance — operator disclosures, notice — receipt requirements — antifraud measures — enhanced due diligence policy — officers — report — rules 361.120Preservation of records — report to governor — destruction of records, when 361.130Reports to director — information accepted in lieu of reports 361.150Acceptance of gifts or favors prohibited 361.160Examination of banks and trust companies 361.180False report of corporation solvency 361.190Claims entitled to priority, liquidation or insolvency 361.200Unclaimed deposits, dividends and interest — deposit by director in trust — preference 361.220Index of persons entitled to unclaimed sums — payment to persons entitled 361.230Branch offices — approval — certificate 361.240Director's approval — discretion — filing — written waivers required 361.250Extensions of time by director 361.259Director's powers extend to out-of-state banks operating in Missouri 361.260Violations, director to serve written notice of charges — hearing, temporary orders, when — orders set aside, procedure — penalty 361.261Authority to issue orders — includes certain other powers 361.262Removal or suspension from office, grounds — written notice of intention, effective when — served on whom 361.264Notice of intention to remove or prohibit participation, content — hearing, failure to appear, effect — order issued when, effective when 361.266Stay of suspension or prohibition, procedure 361.267Information, complaint or indictment of director, officers or other persons — certain charges, effect, procedure 361.268Powers of the board of directors vested in director of finance, when — temporary directors appointed 361.269Notice of suspension or removal, effective when — appeal to director, when — hearings, where held 361.270Report to attorney general and action by him in certain cases 361.280Proceedings in name of director for violations of the provisions of this chapter 361.290Penalty for neglect of duty or misfeasance or malfeasance in office 361.300Director may take possession of property of corporation 361.310Information to prosecuting attorney 361.320Director may maintain action against officers, when 361.330Corporation not to make assignment — duty when in failing condition 361.340Circumstances under which possession by director may terminate 361.350Director may report delinquencies to attorney general to procure judgment of dissolution — reports presumptive evidence 361.360Director's possession may be challenged, when 361.365Director may appoint the Federal Deposit Insurance Corporation as liquidating agent — effect of 361.370Director may surrender possession for resumption or liquidation 361.380Surrender for liquidation 361.390Liquidation — special deputy may be appointed 361.400Director's assistant may be appointed as special deputy 361.410Expenses of liquidation, how paid 361.420Procedure of director to obtain possession of pleadings in actions against which attorneys' liens are asserted 361.430On taking possession, director shall notify those holding assets — effect of notification 361.440Inventory of assets to be made and filed 361.450Disposition by director of property held by delinquent as bailee or depositary for hire 361.460Effect of director's notice to remove upon contract of bailment or of deposit for hire 361.470Liquidation and conservation of assets — compounding debts and compromising certain claims 361.480Director may borrow on assets of closed corporation 361.490Deposit of moneys collected — preference 361.500Director's power to sue, execute instruments for delinquents — actions and proceedings preferred 361.510Notice to creditors to make proof of claims 361.520Director to list claims duly presented 361.530Objections to claims — procedure 361.540Claims approved or rejected — list of such claims 361.550Effect of accepting claims — statute of limitations for action upon claims not accepted — necessary allegations 361.560Judgments recovered after director takes possession shall not be liens 361.570Dividends to creditors — priorities — disposition of unclaimed dividends 361.580Director shall call stockholders' meeting after creditors are paid in full — proceedings at such meeting 361.590Duties of director where he continues liquidation — termination of corporate existence 361.600Duties of director where stockholders elect another to liquidate 361.729Persons, firms, and corporations not subject to administrative penalty for acts performed in reliance on written interpretations 361.900Short title 361.903Purpose 361.906Definitions 361.909Exemptions 361.912Authority to require demonstration of exemption 361.915Implementation 361.918Confidentiality 361.921Supervision 361.924Networked supervision 361.927Relationship to federal law 361.930License required 361.933Consistent state licensing 361.936Application for licensing 361.939Information requirement for certain individuals 361.942Issuance of license 361.945Renewal of license 361.948Maintenance of license 361.951Acquisition of control 361.954Notice and information requirements for a change of key individuals 361.957Report of condition 361.960Audited financials 361.963Authorized delegate reporting 361.966Reports of certain events 361.969Bank Secrecy Act reports 361.972Records 361.975Relationship between licensee and authorized delegate 361.978Unauthorized activities 361.981Prohibited authorized delegates 361.984Timely transmission 361.987Refunds 361.990Receipts 361.996Disclosures for payroll processing services 361.999Net worth