408.600. Division directors to enforce provisions of sections 408.570 to 408.600--complaints, how handled--hearings--remedies.
Division directors to enforce provisions of sections 408.570 to408.600--complaints, how handled--hearings--remedies.
408.600. 1. Each division director shall enforce theprovisions of sections 408.570 to 408.600. With respect to statefinancial institutions which he supervises, licenses or charters,each division director shall utilize the powers granted him underthe general statutory authority by which he regulates,supervises, licenses, or charters such institutions, as well asthe powers granted him by sections 408.570 to 408.600. Thedirector of the division of finance shall enforce the provisionsof sections 408.570 to 408.600 as they pertain to state financialinstitutions not supervised, licensed or chartered by a divisiondirector, and shall in that enforcement have such powers as aregranted in said sections. The enforcement powers granted bysubsections 2 through 5 of this section shall be utilized by thedirector of the division of finance concerning national banks, bythe director of savings and loan supervision concerning federalsavings and loan associations, and by the director of creditunions concerning federal credit unions.
2. Any person who alleges to have been aggrieved as a resultof a violation of section 408.575 or 408.580 may file a complaintwith the appropriate division director. Within ninety days ofthe receipt of such complaint, the division director shalldetermine whether there is any reason to believe that a violationof section 408.575 or 408.580 has occurred. If the divisiondirector determines that there is such reason, then he shallundertake to resolve the complaint by negotiation or he shallconduct a hearing in accordance with the provisions of subsection3 of this section, except that the hearing shall be held in thelocality where the alleged violation occurred.
3. If the division director, on the basis of an examination,an investigation of a complaint which has not been resolved bynegotiation, a report required to be filed by section 408.592, orany public document or information, has reason to believe that aviolation of section 408.575 or 408.580 has occurred or doesexist, the division director shall conduct a hearing inaccordance with chapter 536, RSMo. If the evidence establishes aviolation of any provision of section 408.575 or 408.580, thedivision director may issue a cease and desist order statingspecifically the unlawful practice to be discontinued, whichorder shall be served personally, or by certified mail. Thedecision of the division director shall be appealable directly tothe circuit court pursuant to chapter 536, RSMo.
4. If, after an order of the division director has becomefinal, the director believes a violation of any provision of theorder has occurred, he may seek an injunction to prohibit suchviolations in any court of competent jurisdiction. For eachviolation of such injunction, the court may assess a fine whichmay be recovered with costs by the state in any court ofcompetent jurisdiction in an action to be prosecuted by theattorney general.
5. The remedies provided by this section shall not beinterpreted as exclusive remedies but shall be in addition toremedies otherwise available to the director or to any individualdamaged by a violation of sections 408.570 to 408.600.
(L. 1979 S.B. 305)Effective 1-1-80