362.250. Oath of directors to be subscribed and certified--to be filed by director--penalty. - Missouri Statutes

Oath of directors to be subscribed and certified--to be filed bydirector--penalty.

362.250. 1. Every person elected director of a bank or trust companyshall, within thirty days after election, qualify himself as director byfiling with the officers of the bank or trust company an oath that he will,so far as the duty devolves on him, diligently and honestly administer theaffairs of the bank or trust company, and will not knowingly violate, orwillingly permit to be violated, any of the provisions of law applicable tothe bank or trust company.

2. The oath shall be subscribed by the director making it, andcertified by an officer authorized by law to administer oaths, and the factof the oath having been made and filed with the officers of the bank ortrust company shall be noted on the records of the acts of the directors.

3. The oath, subscribed by the director making it, and certified bythe officer before whom it is taken, shall be immediately transmitted tothe director of finance and shall be filed and preserved in his office.

4. Failure to comply with this provision within the time specifiedshall work a forfeiture of the position; provided, however, that thedirector of finance may, for cause deemed sufficient by him, extend thetime; and when any vacancy occurs by this failure the board of directorsshall, at the next regular meeting thereafter, enter the fact of thevacancy upon their records and promptly proceed to elect some competentperson to fill the vacancy for the unexpired term.

(RSMo 1939 § 7959, A.L. 1967 p. 445, A.L. 1977 S.B. 420, A.L. 1989 H.B. 346, A.L. 1998 S.B. 852 & 913)

Prior revisions: 1929 § 5364; 1919 § 11747

Effective 1-1-99