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

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

361.269. 1. A notice of suspension or order of removalissued pursuant to sections 361.267, 361.268 and this subsectionshall become effective immediately but any director, officer, orother person concerned may, within thirty days of service of anynotice of suspension or order of removal, request, in writing, anopportunity to appear before the director to show that thecontinued service to or participation in the conduct of theaffairs of the corporation by such individual does not, or is notlikely to, pose a threat to the interests of the corporation'sdepositors or threaten to impair public confidence in thecorporation.

2. Any hearing provided for in sections 361.262 to 361.269shall be held in a place which shall be determined by thedirector, giving due regard for the convenience to both thedirector and the party requesting the hearing.

(L. 1985 H.B. 408 § 361.265 subsec. 6 subdiv. (3) and subsec. 7)