361.094. Banking board to determine appeals--procedure--hearing officer authorized. - Missouri Statutes

Banking board to determine appeals--procedure--hearing officerauthorized.

361.094. 1. The state banking board shall with reasonablepromptness hear and by order determine all appeals permitted bylaw from refusals of the director of finance to grantcertificates of incorporation to the proposed incorporators ofbanks, from refusals of the director of finance to issuecertificates permitting changes in the articles of agreement ofbanks to provide for the relocation of these banks in othercommunities, from refusals of the director of finance to grantcertificates of incorporation to the proposed incorporators oftrust companies, and from refusals of the director of finance toissue certificates permitting changes in the articles ofagreement of trust companies to provide for the relocation ofthese trust companies in other communities.

2. The state banking board shall hear and by order determinean appeal from the action of the director granting theincorporation or relocation of a bank or trust company uponapplication filed within ten days after the director's action bya bank, trust company, national banking association or otherpersons claiming to be adversely affected thereby. Theapplication shall state the grounds upon which it is alleged thatthe action of the director should be stayed, reversed or altered.In reviewing an application for appeal, the board shall haveaccess to all of the records and information used by the directorin making his decision. A decision shall be rendered on theappeal within ninety days from the date of the application forappeal.

3. The board shall establish such rules as may be necessaryto give effect to the provisions of this section. The rules mayprovide that the board or the chairman of the board may delegateresponsibility for the conduct of investigations and the hearingof appeals provided under any section of this law to a member ofthe board or to a hearing officer designated by the board. Suchhearing officer shall have the power to administer oaths,subpoena witnesses, compel the production of records pertinent toany hearing, and take any action in connection with such hearingwhich the board itself is authorized to take by law other thanmaking the final decision and appropriate order. When thehearing has been completed, the individual board member or thehearing officer who conducted the hearing shall prepare a summarythereof and recommend a findings of fact, conclusions of law,decision and appropriate order for approval of the board. Theboard may adopt such recommendations in whole or in part, requirethe production of additional testimony, reassign the case forrehearing, or may itself conduct such new or additional hearingas is deemed necessary prior to rendering a final decision.

(L. 1955 p. 263 § 4, A.L. 1967 p. 445, A.L. 1978 H.B. 1057)

(1974) Revocation of bank charter by the state banking board does not extinguish the bank's legal capacity to appeal the board's decision. Central Bank of Clayton v. State Banking Board of Missouri (A.), 509 S.W.2d 175.