Section 369.299

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 369

Effective - 28 Aug 2011   

  369.299.  Powers and duties of director. — The director of the division of finance shall:

  (1)  Exercise all rights, powers and duties set forth in sections 369.010 to 369.369 or as may be otherwise provided by law;

  (2)  Establish, amend, supplement and revoke, subject to the approval of the board, all regulations authorized by the provisions of sections 369.010 to 369.369 and such additional regulations as may be reasonable or necessary to provide for the organization, incorporation, examination, operation, and regulation of associations, and service corporations, and the director may by regulation provide that an association shall have all powers, rights, and privileges which it would have from time to time if organized and operating in Missouri as a federal association under the laws of the United States.  The director shall deliver by mail to each association a copy of any proposed regulation or change in an existing regulation.  If five or more associations protest the proposed regulation or change and request a hearing thereon within fifteen days thereafter, the director shall conduct a hearing before acting thereon;

  (3)  Direct and supervise all the activities of the office;

  (4)  Exercise general supervision over all associations and all corporations which are owned in whole or in part by an association or associations;

  (5)  Upon request of the governor make a report in writing to the governor on or before the first day of March as to the financial condition as of December thirty-first of the preceding year of each association;

  (6)  Have charge of the execution of laws relating to savings associations with authority to sue in the director's name to enforce any law of this state applying to an association or to a corporation in which an association has an interest, or applying to the officers, directors or employees of any association.

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(L. 1971 S.B. 3 § 59, A.L. 1994 H.B. 1165, A.L. 2011 H.B. 464)