HB 2331 -- Emergency Response within Financial Institutions

Sponsor:  Spreng

This bill allows the Governor, during a state of emergency, to
authorize the Director of the Division of Finance within the
Department of Insurance, Financial Institutions, and Professional
Registration to suspend laws and rules applicable to the division
that are reasonable and necessary to preserve the safety and
soundness of financial institutions, facilitate disaster response
and recovery efforts to serve essential civil needs and protect
the public interest, and coordinate emergency response with
financial institutions and emergency responders.  The division
director must file written waivers, suspensions, actions, and
directives in the director's office.

Currently, banks and trust companies may operate under emergency
bylaws in certain circumstances.  The bill allows banks and trust
companies to do the same when the General Assembly or Governor
declares a state of emergency.  The board of directors or the
president of the bank or trust company must notify the division
director of the implementation of emergency bylaws and the status
of its emergency response operations.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm