2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 369 Savings and Loan Associations
Section 369.334. Reports may be required--examiners to have access to records.
Reports may be required--examiners to have access to records.
369.334. 1. Each association shall make such reports, verified if required, in such form as the director of the division of finance may from time to time require.
2. Each association shall be examined periodically, and may be examined at any time, by the director, with appraisals when deemed advisable. The director may require an audit of any association at any time, such audit to be made by the director or by certified public accountants, with appraisals if deemed advisable. Any such audit, if not made by the director, shall be filed promptly with the director. In any instance in which an appraisal is required, it shall be made by an appraiser selected by the director and the cost thereof shall be paid by the association directly to the appraiser upon receipt of a statement of the cost approved by the director. A copy of the report of each appraisal shall be furnished to the association within a reasonable time following the completion thereof, not to exceed ninety days.
3. The representative of the director making an examination or audit shall have access to all books and papers of the association or of any corporation in which the association owns any capital stock, shall have power to administer oaths, take all testimony by such person deemed necessary and proper, and may compel the attendance of witnesses and the production of books and papers by order of the courts of this state.
4. The director may accept, in lieu of any examination required by sections 369.010 to 369.369 or of any audit required or permitted under sections 369.010 to 369.369 or in lieu of any appraisal permitted under sections 369.010 to 369.369, any report, audit or appraisal required or made by or for the Federal Deposit Insurance Corporation or any successor thereto, the Office of Thrift Supervision or any successor thereto or a Federal Home Loan Bank.
(L. 1971 S.B. 3 66, A.L. 1983 H.B. 570, A.L. 1994 H.B. 1165)Effective 7-6-94
Annotation Copyright Missouri Joint Committee on Legislative Research
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