370.100. Supervisor--powers--qualifications--examiners and assistants. - Missouri Statutes

Supervisor--powers--qualifications--examiners and assistants.

370.100. 1. There is created within the state division offinance, a supervisor of credit unions who shall have exclusivesupervision of all credit unions operating under the laws of thisstate and may make necessary rules and regulations to carry outthe provisions of this chapter.

2. The supervisor of credit unions shall be appointed by thecommissioner of finance to serve at his pleasure.

3. The supervisor of credit unions shall maintain his officeat Jefferson City, Missouri, and shall devote all of his time tothe duties of his office.

4. No person shall be eligible to be appointed to the officeunless he has had at least three years actual practicalexperience with credit union operation or unless he has servedfor the same period of time in the agency having charge of creditunion operation in this or some other state of the United States,or in the national credit union administration.

5. The supervisor of credit unions, with the approval of thecommissioner of finance, may appoint a deputy supervisor ofcredit unions and such examiners, assistant examiners and otheremployees and assistants as he shall deem necessary to properlydischarge his duties as supervisor of credit unions.

6. The actual and necessary traveling and other divisionalor office expenses of the supervisor of credit unions, the deputysupervisor, and other assistants and employees shall be paid outof the state treasury as provided by law.

7. The examiners and any person appointed as deputysupervisor shall possess the qualifications required for thesupervisor of credit unions, except that any person who was,prior to the date of the enactment of this law, employed by thestate division of finance and whose duties were, at the time ofthe enactment of this law, principally concerned with creditunions and had been so concerned for not less than one year shallbe eligible to serve as deputy supervisor or examiner.Appointment of examiners and assistant examiners shall be so madethat, as near as may be, one-half of their number, respectively,shall be members of the political party polling the highestnumber of votes for governor at the last preceding stateelection, the remaining one-half shall be members of thepolitical party polling the next highest number of votes forgovernor at the last preceding state election.

8. All persons appointed by the supervisor of credit unionsas authorized herein shall perform the duties required of them bythe supervisor of credit unions, and shall devote all of theirtime to their official duties.

(RSMo 1939 § 5526, A.L. 1945 p. 689, A.L. 1945 p. 720, A. 1949 H.B. 2091, A.L. 1959 S.B. 127, A.L. 1967 p. 509, A.L. 1972 S.B. 502)

Prior revision: 1929 § 5084

*Section 620.010 creates a division of credit unions in the department of economic development and transfers all powers and duties of the state supervisor of credit unions to the division of credit unions and the office of the state supervisor of credit unions is abolished.