Missouri Laws 369.294 – Certain interest in an association by director and examiners prohibited — ..
1. The director of the division of finance and examiners shall not be interested in an association directly or indirectly either as creditor (except that each may be an account holder and receive earnings thereon), director, officer, employee, trustee, attorney or borrower (except for a loan on the home property owned and occupied by the director or examiner or a share loan), nor shall any one of them receive directly or indirectly any payment, compensation or gratuity from any association.
2. The director, the examiners and all employees of the division of finance and members of the board shall not divulge any information acquired in the discharge of their duties except insofar as required by law or order of court. The director may, however, furnish information to the Office of Thrift Supervision or any successor thereto, the Federal Deposit Insurance Corporation or any successor thereto, any federal home loan bank or savings departments of other states.
Terms Used In Missouri Laws 369.294
- Account: the monetary interest of the owner thereof in the deposit capital of an association and consists of the withdrawal value of such interest. See Missouri Laws 369.014
- Association: a savings and loan association or a savings association subject to the provisions of this chapter. See Missouri Laws 369.014
- Board: the state banking and savings and loan board established under chapter 361. See Missouri Laws 369.014
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Director of the division of finance: the chief officer of the division of finance. See Missouri Laws 369.014
- Earnings: that part of the net income of an association which is payable to or credited to the owners of accounts. See Missouri Laws 369.014
- Office: any place at which business of the association is conducted on a regular and continuing basis. See Missouri Laws 369.014
- Property: includes real and personal property. See Missouri Laws 1.020
- Trustee: A person or institution holding and administering property in trust.