Missouri Revised Statutes
Chapter 361 - Division of Finance and Powers of Director of Finance
Section 361.170 - Expenses of examination, how paid — salary schedule for division employees to be maintained — division of finance fund, created, uses, transfers to general revenue fund, when.

Effective - 28 Aug 2005, 2 histories
361.170. Expenses of examination, how paid — salary schedule for division employees to be maintained — division of finance fund, created, uses, transfers to general revenue fund, when. — 1. The expense of every regular and every special examination, together with the expense of administering the banking laws, including salaries, travel expenses, supplies and equipment, and including the direct and indirect expenses for rent and other supporting services furnished by the state, shall be paid by the banks and trust companies of the state, and for this purpose the director shall, prior to the beginning of each fiscal year, make an estimate of the expenses to be incurred by the division during such fiscal year. To this there shall be added an amount not to exceed fifteen percent of the estimated expenses to pay the costs of rent and other supporting services such as the costs related to the division's services from the state auditor and attorney general and an amount sufficient to cover the cost of fringe benefits furnished by the state. From this total amount the director shall deduct the estimated amount of the anticipated annual income to the fund from all sources other than bank or trust company assessments. The director shall allocate and assess the remainder to the several banks and trust companies in the state on the basis of a weighted formula to be established by the director, which will take into consideration their total assets, as reflected in the last preceding report called for by the director pursuant to the provisions of section 361.130 or from information obtained pursuant to subsection 3 of section 361.130 and, for trust companies which do not take deposits or make loans, the volume of their trust business, and the relative cost, in salaries and expenses, of examining banks and trust companies of various size and this calculation shall result in an assessment for each bank and trust company which reasonably represents the costs of the division of finance incurred with respect to such bank or trust company. A statement of such assessment shall be sent by the director to each bank and trust company on or before July first. One-half of the amount so assessed to each bank or trust company shall be paid by it to the state director of the department of revenue on or before July fifteenth, and the remainder shall be paid on or before January fifteenth of the next year.
2. Any expenses incurred or services performed on account of any bank, trust company or other corporation subject to the provisions of this chapter, outside of the normal expense of any annual or special examination, shall be charged to and paid by the corporation for whom they were incurred or performed. Fees and charges to other corporations subject to this chapter should be reviewed at least annually by the division of finance to determine whether regulatory costs are offset by the fees and charges, and the director of the division of finance shall revise fees and charges to fully recover these costs.
3. The director of the division of finance shall prepare and maintain an equitable salary schedule for examiners, professional staff, and support personnel who are employees of the division. Personnel employed by the division shall be compensated according to this schedule, provided that such expense of administering the banking laws is assessed and paid in accordance with this section. The positions and classification plan for such personnel attributed to the examination of the state bank and trust companies shall allow for a comparison of such positions with similar bank examiner positions at federal bank regulatory agencies. State bank examiner positions shall not be compensated more than ninety percent of parity for corresponding federal positions for similar geographic locations in Missouri as determined by the director of the division of finance.
4. The state treasurer shall credit such payments to a special fund to be known as the "Division of Finance Fund", which is hereby created and which shall be devoted solely to the payment of expenditures actually incurred by the division and attributable to the regulation of banks, trust companies, and other corporations subject to the jurisdiction of the division. Any amount, other than the amount not to exceed fifteen percent for supporting services and the amount of fringe benefits described in subsection 1 of this section, remaining in such fund at the end of any fiscal year and any earnings attributed to such fund shall not be transferred and placed to the credit of the general revenue fund as provided in section 33.080, but shall be applicable by appropriation of the general assembly to the payment of such expenditures of the division in the succeeding fiscal year and shall be applied by the division to the reduction of the amount to be assessed to banks and trust companies in such succeeding fiscal year; provided the amount not to exceed fifteen percent for supporting services and the amount of fringe benefits described in subsection 1 of this section shall be returned to general revenue to the extent supporting services are not directly allocated to the fund.
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(RSMo 1939 § 7895, A. 1949 H.B. 2084, A.L. 1951 p. 283, A.L. 1955 p. 262, A.L. 1959 H.B. 322, A.L. 1963 p. 447, A.L. 1967 p. 445, A.L. 1986 H.B. 1195, A.L. 1991 H.B. 516, A.L. 1997 H.B. 257, A.L. 2003 H.B. 221 merged with S.B. 346, A.L. 2005 H.B. 379 and A.L. 2005 S.B. 318, A.L. 2011 H.B. 315)
Prior revisions: 1929 § 5301; 1919 § 11689; 1909 § 1080
(1999) Statements made during routine bank examinations receive qualified, not absolute, immunity. Rockwood Bank v. Gaia, 170 F.3d 833 (8th Cir.).

Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXIV - Business and Financial Institutions

Chapter 361 - Division of Finance and Powers of Director of Finance

Section 361.005 - Definitions, chapters 361, 362, and 369.

Section 361.010 - Division of finance created — location of office — transfer of division.

Section 361.020 - Powers of division.

Section 361.030 - Seal — recording of documents.

Section 361.040 - Director — appointment — term of office.

Section 361.050 - Director — qualifications.

Section 361.060 - Deputy director — appointment — qualifications — duties.

Section 361.070 - Director and employees — oath — bond — prohibited acts — professional conduct policy — powers of director.

Section 361.080 - Confidential information — exceptions — penalty for disclosure.

Section 361.090 - Compensation and travel expenses, how paid.

Section 361.092 - State banking and savings and loan board created.

Section 361.093 - Board to advise and recommend.

Section 361.094 - Board to determine appeals — procedure — hearing officer authorized.

Section 361.095 - Procedure on appeals — costs — parties — judicial review.

Section 361.096 - Board may subpoena witnesses at hearings — oaths — enforcement of subpoena or testimony.

Section 361.097 - Board members, appointment, qualifications, terms.

Section 361.098 - Board members, compensation — quorum of board — meetings — seal.

Section 361.100 - Deposits in state treasury.

Section 361.105 - Director of finance authorized to issue rules with approval of state banking and savings and loan board — rulemaking procedure.

Section 361.110 - Report of work of division, contents — retention of statements.

Section 361.120 - Preservation of records — report to governor — destruction of records, when.

Section 361.130 - Reports to director — information accepted in lieu of reports.

Section 361.150 - Acceptance of gifts or favors prohibited.

Section 361.160 - Examination of banks and trust companies.

Section 361.170 - Expenses of examination, how paid — salary schedule for division employees to be maintained — division of finance fund, created, uses, transfers to general revenue fund, when.

Section 361.180 - False report of corporation solvency.

Section 361.190 - Claims entitled to priority, liquidation or insolvency.

Section 361.200 - Unclaimed deposits, dividends and interest — deposit by director in trust — preference.

Section 361.220 - Index of persons entitled to unclaimed sums — payment to persons entitled.

Section 361.230 - Branch offices — approval — certificate.

Section 361.240 - Director's approval — discretion — filing — written waivers required.

Section 361.250 - Extensions of time by director.

Section 361.259 - Director's powers extend to out-of-state banks operating in Missouri.

Section 361.260 - Violations, director to serve written notice of charges — hearing, temporary orders, when — orders set aside, procedure — penalty.

Section 361.261 - Authority to issue orders — includes certain other powers.

Section 361.262 - Removal or suspension from office, grounds — written notice of intention, effective when — served on whom.

Section 361.264 - Notice of intention to remove or prohibit participation, content — hearing, failure to appear, effect — order issued when, effective when.

Section 361.266 - Stay of suspension or prohibition, procedure.

Section 361.267 - Information, complaint or indictment of director, officers or other persons — certain charges, effect, procedure.

Section 361.268 - Powers of the board of directors vested in director of finance, when — temporary directors appointed.

Section 361.269 - Notice of suspension or removal, effective when — appeal to director, when — hearings, where held.

Section 361.270 - Report to attorney general and action by him in certain cases.

Section 361.280 - Proceedings in name of director for violations of the provisions of this chapter.

Section 361.290 - Penalty for neglect of duty or misfeasance or malfeasance in office.

Section 361.300 - Director may take possession of property of corporation.

Section 361.310 - Information to prosecuting attorney.

Section 361.320 - Director may maintain action against officers, when.

Section 361.330 - Corporation not to make assignment — duty when in failing condition.

Section 361.340 - Circumstances under which possession by director may terminate.

Section 361.350 - Director may report delinquencies to attorney general to procure judgment of dissolution — reports presumptive evidence.

Section 361.360 - Director's possession may be challenged, when.

Section 361.365 - Director may appoint the Federal Deposit Insurance Corporation as liquidating agent — effect of.

Section 361.370 - Director may surrender possession for resumption or liquidation.

Section 361.380 - Surrender for liquidation.

Section 361.390 - Liquidation — special deputy may be appointed.

Section 361.400 - Director's assistant may be appointed as special deputy.

Section 361.410 - Expenses of liquidation, how paid.

Section 361.420 - Procedure of director to obtain possession of pleadings in actions against which attorneys' liens are asserted.

Section 361.430 - On taking possession, director shall notify those holding assets — effect of notification.

Section 361.440 - Inventory of assets to be made and filed.

Section 361.450 - Disposition by director of property held by delinquent as bailee or depositary for hire.

Section 361.460 - Effect of director's notice to remove upon contract of bailment or of deposit for hire.

Section 361.470 - Liquidation and conservation of assets — compounding debts and compromising certain claims.

Section 361.480 - Director may borrow on assets of closed corporation.

Section 361.490 - Deposit of moneys collected — preference.

Section 361.500 - Director's power to sue, execute instruments for delinquents — actions and proceedings preferred.

Section 361.510 - Notice to creditors to make proof of claims.

Section 361.520 - Director to list claims duly presented.

Section 361.530 - Objections to claims — procedure.

Section 361.540 - Claims approved or rejected — list of such claims.

Section 361.550 - Effect of accepting claims — statute of limitations for action upon claims not accepted — necessary allegations.

Section 361.560 - Judgments recovered after director takes possession shall not be liens.

Section 361.570 - Dividends to creditors — priorities — disposition of unclaimed dividends.

Section 361.580 - Director shall call stockholders' meeting after creditors are paid in full — proceedings at such meeting.

Section 361.590 - Duties of director where he continues liquidation — termination of corporate existence.

Section 361.600 - Duties of director where stockholders elect another to liquidate.

Section 361.700 - Sale of checks law, how cited — definitions.

Section 361.705 - License required to issue checks for consideration, exceptions — violations, penalty.

Section 361.707 - Application for license, content — investigation fee, applied to license fee, when.

Section 361.711 - Surety bond or irrevocable letter of credit required, costs, amount, special examinations.

Section 361.715 - License issued upon investigation, when — fee — charge for applications to amend and reissue.

Section 361.718 - Reserve required — director may demand proof, when.

Section 361.720 - Licensee may conduct business through unlicensed agents and employees.

Section 361.723 - Annual report filed with director, content.

Section 361.725 - Revocation or suspension of license — grounds — procedure.

Section 361.727 - Rules — authority.

Section 361.729 - Persons, firms, and corporations not subject to administrative penalty for acts performed in reliance on written interpretations.