2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 370 Credit Unions
Section 370.063. Appeals--rules--nonseverability clause.

370.063. 1. An appeal pursuant to subdivision (2) of section 370.062, shall be perfected by filing with the director of the division of credit unions within fifteen days after notice of the director's decision is mailed, a notice of appeal stating the name of the appealing party and the order or decision being appealed. The director shall mail copies thereof to all interested parties. Upon any such hearing the transcript of the proceedings before the director or, if the decision appealed from was made without a hearing, all writings used or considered by the director in making such decision, shall be considered by the commission and the commission may take evidence, the taking of such evidence to be limited to newly discovered evidence in those appeals in which there was a hearing before the director and to be governed by the provisions of chapter 536. The review by the commission shall be similar to that provided in appeals in equity cases in the courts of this state. Decisions shall be made as provided in chapter 536. The costs on appeal shall include the per diem compensation of the members of the commission and all such costs may be assessed against parties other than the director as may be determined by the commission. At least fifteen days' notice of the hearing shall be given to all persons interested in the matter appealed from and to the director.

2. The credit union commission shall make rules and regulations, consistent with applicable law, for the proceedings in connection with the appeals provided for in subdivision (2) of section 370.062 and setting forth the criteria the director will apply in determining whether or not one or more additional groups may be included in the membership of an existing credit union. The criteria shall include, but is not limited to, determination of the credit union's capital adequacy, administrative capability and financial resources to serve the new membership group. No rule or portion of a rule promulgated under the authority of this chapter shall become effective unless it has been promulgated pursuant to the provisions of chapter 536. Any rule or portion of a rule, as that term is defined in section 536.010, that is promulgated under the authority delegated in this chapter shall become effective only if the agency has fully complied with all of the requirements of chapter 536 including but not limited to, section 536.028 if applicable, after August 28, 1998. All rulemaking authority delegated prior to August 28, 1998, is of no force and effect and repealed as of August 28, 1998, however, nothing in this section shall be interpreted to repeal or affect the validity of any rule adopted or promulgated prior to August 28, 1998. If the provisions of section 536.028 apply, the provisions of this section are nonseverable and if any of the powers vested with the general assembly pursuant to section 536.028 to review, to delay the effective date, or to disapprove and annul a rule or portion of a rule are held unconstitutional or invalid, the purported grant of rulemaking authority and any rule so proposed and contained in the order of rulemaking shall be invalid and void, except that nothing in this section and sections 370.061, 370.062, 370.080, 370.081 and 370.082 shall affect the validity of any rule adopted and promulgated prior to August 28, 1998.

3. The director of the division of credit unions shall act in accordance with any order of the credit union commission made pursuant to subdivision (2) of section 370.062.

(L. 1998 H.B. 1323)

Annotation Copyright Missouri Joint Committee on Legislative Research