2011 Missouri Revised Statutes
TITLE XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 370 Credit Unions
Section 370.260. Cancellation of shares--member to keep credit union informed of current address--locator service charge.
Cancellation of shares--member to keep credit union informed of current address--locator service charge.
370.260. 1. A credit union may, upon the resignation or expulsion of a member, cancel the shares of such member and apply the withdrawal value of such shares toward the liquidation of the member's indebtedness.
2. Each member shall keep the credit union informed about his current address. In the event a member fails to do this, a charge may be made to the member's share account for the actual cost of necessary locator service in determining such address; provided, however, that such charge shall not exceed five dollars. The charge shall be made only for amounts paid to a person or concern normally engaged in providing such service, and shall be made against the account or accounts of any one member not more than once in any twelve-month period.
(RSMo 1939 5532, A.L. 1945 p. 689, A.L. 1972 S.B. 502)Prior revision: 1929 5090
Annotation Copyright Missouri Joint Committee on Legislative Research
Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
