362.495. When payment and withdrawals may be suspended. - Missouri Statutes

When payment and withdrawals may be suspended.

362.495. Whenever unusual withdrawals from any bank or trust companydoing a banking business in this state, organized under the laws of thisstate are being made, or whenever in the judgment of the president andcashier or president and secretary of such bank or trust company and/or theboard of directors thereof, unusual withdrawals are about to be made, suchofficers and/or directors are hereby authorized to suspend payment ofchecks of depositors and any and all other withdrawals of assets of suchbank or trust company for a period of six banking days. The board ofdirectors may designate a chief executive officer who is not the president,but who shall perform all the duties of the president required by thissection.

(RSMo 1939 § 8003, A.L. 2001 H.B. 738 merged with S.B. 186)