362.285. Report of directors' examination--penalty.

MISSOURI STATUTES AND CODES

362.285. Report of directors' examination--penalty.

Report of directors' examination--penalty.

362.285. 1. Within ten days succeeding any examination madepursuant to the requirements of section 362.280, a report inwriting thereof, sworn to by the directors or stockholders makingthe same, shall be made to the board of directors of the bank ortrust company, and placed on file in the bank or trust company,and a duplicate thereof filed in the office of the financedirector.

2. The report shall particularly contain a statement of theassets and liabilities of the bank or trust company examined, asshown by the books, together with such deductions from theassets, and the addition of the liabilities, direct, indirect,contingent or otherwise, as the directors or committee, after theexamination, may find necessary in order to determine the truecondition of the bank or trust company. It shall also contain astatement showing in detail every known liability to the bank ortrust company, direct or indirect, contingent or otherwise, ofevery officer or director thereof and of every corporation inwhich the officer or director owns stock to the amount oftwenty-five percent of the total outstanding stock, or of whichthe officer or director is also an officer or director. It shallalso contain a statement, in detail, of loans, if any, which intheir opinion are doubtful or worthless, together with theirreasons for so regarding them; also a statement of loans made oncollateral security which in their opinion are insufficientlysecured, giving in each case the amount of the loan, the name andmarket value of the collateral, if it has any market value, and,if not, a statement of that fact, and its actual value as nearlyas possible. The report shall also contain a statement ofoverdrafts, of the names and amounts of the ones consideredworthless or doubtful, and a full statement of such other mattersas affect the solvency and soundness of the institution.

3. If the directors of any bank or trust company shall failto make, or to cause to be made or to file the report ofexamination in the manner and within the time specified, the bankor trust company shall forfeit to the state one hundred dollarsfor every day such report shall be delayed.