Missouri Laws 362.150 – Director may investigate branches — require banks to dispose of holdings
Terms Used In Missouri Laws 362.150
- Bank: means any corporation soliciting, receiving or accepting money, or its equivalent, on deposit as a business, whether the deposit is made subject to check, or is evidenced by a certificate of deposit, a passbook, a note, a receipt, or other writing, and specifically a commercial bank chartered under this chapter or a national bank located in this state. See Missouri Laws 362.010
- 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.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Subpoena: A command to a witness to appear and give testimony.
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.