False report of corporation solvency
Known as the Money Transmission Modernization Act
The act spans §§ 361–361 (125 sections).
Effective: 28 Aug 1949; (RSMo 1939 § 7886, A. 1949 H.B. 2084); Prior revisions: 1929 § 5292; 1919 § 11680; 1909 § 1089
1. If the director, any deputy or examiner knowingly and wrongfully reports any corporation as solvent when it is insolvent or insolvent when it is solvent, any person injured thereby shall have a right of action on the official bond of such director, deputy or examiner for his injuries and damages sustained.
2. Such action shall be brought in the name of the state at the relation of the injured party.
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.