362.920. Procedure to obtain order allowing acquisition--duty of director.
Procedure to obtain order allowing acquisition--duty of director.
362.920. 1. A bank holding company which seeks to acquirecontrol of a bank or a bank holding company shall file with thedivision of finance a copy of any application which the bankholding company is required to file with the Board of Governorsof the Federal Reserve System, together with such supplementaldata as will enable the director of finance to determine if theacquisition is lawful under the provisions of section 362.915.The director of finance shall, within thirty days after receivingthe application, issue his order declaring the acquisition to belawful or unlawful under the provisions of section 362.915. Theorder of the director shall be the final administrative decisionwhich may be appealed in the circuit court of the county ofproper venue within thirty days after the mailing or delivery ofnotice of the director's order, by any party aggrieved by theorder.
2. The director shall also determine if the proposedacquisition of a bank by a bank holding company is consistentwith the interests of promoting and maintaining a sound bankingsystem and sound trust companies, the security of deposits anddepositors and other customers, the preservation of the liquidposition of banks and in the interest of preventing injuriouscredit expansions and contractions. If the director determinesthat the proposed acquisition is not consistent with thoseobjectives, he shall, within thirty days of receipt of theapplication, communicate his objections to the proposedacquisition to the Board of Governors of the Federal ReserveSystem.
3. The provisions of section 362.915 and subsections 1 and 2of this section shall not apply in the case of the acquisition ofa bank or bank holding company acquired at the request of thedirector of finance, the Federal Deposit Insurance Corporation orthe Board of Governors of the Federal Reserve System in order toprevent the imminent failure of a bank.
(L. 1974 H.B. 1798 § 1 subsecs. 3, 4, A.L. 1978 H.B. 1634)Effective 1-2-79