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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

previous next Effective - 28 Aug 1967bottom

  362.150.  Director may investigate branches — require banks to dispose of holdings. — If at any time the director shall ascertain that the regulations prescribed by him are not being complied with, the director may institute an investigation of the matter and * require such papers or records of any bank or trust company conducting branches or having investments in other banks or corporations as the director may deem necessary, * subpoena witnesses and administer oaths and require witnesses to give evidence concerning any transactions or facts relating to the conduct of the branches or the affairs of any bank or corporation in the stock of which an investment is made; and should the investigation result in establishing the failure of any bank or corporation in the stock of which an investment has been made or of the bank or trust company owning any such stock, or any branch thereof, to comply with the regulations of the director, the bank or trust company may be required to dispose of its stockholdings in the foreign bank or corporation, upon reasonable notice.

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(RSMo 1939 § 7948, A.L. 1967 p. 445)

Prior revisions: 1929 § 5353; 1919 § 11736

*Word "to" appears here in original rolls.


---- end of effective   28 Aug 1967 ----

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