Missouri § 370.340 - Expulsion and withdrawal of members — refunds.
Full text of Missouri Revised Statutes of Missouri § 370.340 — Expulsion and withdrawal of members — refunds., with citation guidance and answers to common questions.
§ 370.340. Expulsion and withdrawal of members — refunds.
1. At any regularly called meeting the members, by a two-thirds vote of those present, may expel from the credit union any member thereof.
2. A member may withdraw from a credit union upon request.
3. The board of directors, the president, or an executive officer designated by the board may expel a member pursuant to a written policy adopted by the board. Any person expelled shall have the right to appeal the decision pursuant to a written policy adopted by the board.
4. The share balance of an expelled or withdrawing member, with any dividends credited to his or her shares to the date of expulsion, or withdrawal, shall be paid to said member but only as funds therefor become available, and, after deducting any amounts due to the credit union by said member. The share balance of an expelled or withdrawing member, with any dividends credited to his or her shares, shall be paid to such member, subject to sixty days' notice, and after deducting any amounts due to the credit union by said member.
5. Said member, when withdrawing shares, shall have no further right in said credit union or to any of its benefits, but such expulsion or withdrawal shall not operate to relieve such member from any remaining liability to the credit union.
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(RSMo 1939 § 5539, A.L. 1945 p. 689, A.L. 1994 H.B. 1312, A.L. 2020 S.B. 599)
Prior revision: 1929 § 5097
---- end of effective 28 Aug 2020 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 370.340
What does Revised Statutes of Missouri § 370.340 cover?
Section 370.340 ("Expulsion and withdrawal of members — refunds.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 370.340?
A common citation format is "Revised Statutes of Missouri § 370.340" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 370.340 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.