Missouri SB 362: Modifies provisions relating to financial institutions

Bill Text

EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
and is intended to be omitted in the law.
FIRST REGULAR SESSION
SENATE BILL NO. 362
101ST GENERAL ASSEMBLY
INTRODUCED BY SENATOR WIELAND.
1188S.01I ADRIANE D. CROUSE, Secretary
AN ACT
To repeal sections 361.110, 361.727, 362.023, 362.044, 362.165, 362.247, 362.250, 362.340,
362.550, 362.570, 367.150, and 369.049, RSMo, and to enact in lieu thereof eleven
new sections relating to financial institutions.

Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Sections 361.110, 361.727, 362.023, 362.044, 1
362.165, 362.247, 362.250, 362.340, 362.550, 362.570, 367.150, 2
and 369.049, RSMo, are repealed and eleven new sections enacted 3
in lieu thereof, to be known as sections 361.110, 361.727, 4
362.023, 362.044, 362.165, 362.247, 362.250, 362.340, 362.550, 5
362.570, and 369.049, to read as follows:6
361.110. 1. [The director shall keep in his office, 1
in a place accessible to the general public, a bulletin 2
board upon which he shall cause to be posted at noon on 3
Friday, of each week,] On Monday of each week, or on the 4
next day which is not a legal holiday, the director shall 5
post by 5:00 p.m. to the publicly accessible website for the 6
division of finance a detailed statement signed by him or, 7
in case of his absence from the City of Jefferson or 8
inability to act, by the deputy director in charge, giving 9
the following items of general information with regard to 10
the work of the division since the preceding statement: 11
(1) The name of every corporation whose articles of 12
agreement have been filed for examination in the office of 13

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the director, its location and the date of filing of such 14
articles of agreement; 15
(2) The name and location of every corporation 16
authorized by the director to commence or continue business, 17
its capital, surplus and the date of authorization; 18
(3) The name of every proposed corporation which a 19
certificate of incorporation has been refused by the 20
director and the date of notice of refusal; 21
(4) The name and location of every foreign 22
corporation, whose authorization certificate or license has 23
been revoked by the director and the date of such revocation; 24
(5) The name of every corporation that has applied to 25
the director for permission to open a branch office, the 26
date of such application and the location of the proposed 27
branch; 28
(6) The name of every corporation that has been 29
authorized by the director to open a branch office, the date 30
of approval and the location of such branch office; 31
(7) The name and location of every corporation 32
authorized by the director to increase or reduce its capital 33
stock or permanent capital, the date of such authorization 34
and the amount of the increase or reduction; 35
(8) The names and locations of all corporations that 36
have merged pursuant to the provisions of this chapter and 37
the dates of such mergers; 38
(9) The name and residence of every person appointed 39
by the director as a deputy, examiner or employee in the 40
banking department, the title of the office to which 41
appointed, the compensation paid and the date of appointment; 42
(10) The date on which a call for a quarterly report 43
by banks or trust companies was issued by the director and 44

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the day designated as the day with reference to which such 45
report should be made; 46
(11) The name and location of every corporation of 47
whose property and business the director shall have taken 48
possession and the date of taking possession, and the name 49
and residence of every person appointed by the director as a 50
special deputy director; 51
(12) The name and location of every corporation which 52
shall have been authorized by the director to resume 53
business and the date of resumption; 54
(13) The name and location of every corporation whose 55
creditors or depositors have been paid in full by the 56
director and a meeting of whose stockholders shall have been 57
called together with the date of notice of meeting and date 58
of meeting; 59
(14) The name and location of every corporation 60
subject to the provisions of this chapter whose affairs and 61
business shall have been finally liquidated and the 62
corporation dissolved. 63
2. [Every such statement, after having been so posted 64
for one week, shall be placed on file and kept in the office 65
of the director.] All such statements shall be retained by 66
the division of finance as public documents and at all 67
reasonable times shall be open to public inspection and 68
available on the publicly accessible website for the 69
division of finance. 70
361.727. The director shall issue regulations 1
necessary to carry out the intent and purposes of sections 2
361.700 to 361.727, pursuant to the provisions of section 3
[361.103] 361.105 and chapter 536. 4
362.023. 1. Other provisions of the law to the 1
contrary notwithst