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

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

361.270. 1. If any director or officer or employee of anycorporation subject to the provisions of this chapter has abusedhis trust or been guilty of misconduct or malversation in hisofficial position or employment injurious to the institution, thedirector may, in his discretion, communicate the facts to theattorney general, who shall thereupon institute such proceedingsas the nature of the case may require.

2. Such proceedings may be for an order for the removal ofone or more of the officers or members of the board of directors,or for any other remedy suggested by the conditions discovered tothe court; and the court, or judge thereof in vacation, beforewhom such proceedings shall be instituted, shall have powerforthwith to grant such orders, and in its or his discretion,from time to time, to modify or revoke the same and to grant suchrelief as the evidence, situation of the parties and the interestinvolved shall seem to require.

(RSMo 1939 § 7905)

Prior revisions: 1929 § 5311; 1919 § 11699