380.391. Misuse of company assets for private gain, penalty.
174 words·~1 min read·
/mo/chapter-380/380-391A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
380.391. Misuse of company assets for private gain, penalty. — 1. It is unlawful for any officer, director, member, agent or employee of any company operating under the provisions of sections 380.201 to 380.611 to directly or indirectly use or employ, or permit others to use or employ, any of the money, funds or securities of the company for private profit or gain.
2. Any person who willfully engages in any act, practice, omission, or course of business in violation of this section is guilty of a class E felony.
3. The director may refer such evidence as is available concerning violations of this section to the proper prosecuting attorney, who with or without a criminal reference, or the attorney general under section 27.030 , may institute the appropriate criminal proceedings.
4. Nothing in this section shall limit the power of the state to punish any person for any conduct that constitutes a crime in any other state statute.
--------
(L. 1984 H.B. 1498, A.L. 2007 S.B. 66, A.L. 2014 S.B. 491)
Effective 1-01-17