Emergencies

PURPOSE: This rule defines emergencies, requires actions to be taken in anticipation of emergencies and provides for authority in emergencies. (1) The following events are determined to be emergencies for the purposes of Chapter 369, RSMo (1986) and this rule: (A) National emergencies declared by the President of the United States or person lawfully acting as President; (B) Nuclear, atomic or other attack on the United States or any of its territories; (C) Civil disobedience, riot or similar action occurring in any county in which an association has an office, which action necessitates the invocation of the military powers of the United States or of the state of Missouri to suppress such activity; (D) Fire, flood, earthquake, storm or similar act of God, and the reasonable possibility of the occurrence of such event, or power failure or fuel shortage affecting any office of an association, or riot or robbery, which event occurs in the immediate vicinity of any office of an association; or (E) A labor strike, work slowdown or illness substantially affecting the manpower of any office of any association. (2) Each association shall determine by provision in its bylaws, subject to the prior approval of the director, a line of succession for officers of the association which shall apply in any emergency, under which provision persons holding specified positions within the association shall be empowered to act for the chief executive officer of the association during the absence of the officer. (3) Each association shall in its bylaws empower the chief executive officer or person acting in his/her place to act in an emergency exercising his/her best judgment under the circumstances to protect the assets of the association and to close any office or facility of the association as s/he deems necessary in such emergency. The provision may provide for indemnification of the person so acting from personal liability, including legal fees, under these conditions as the board of directors may establish. (4) The following authority is granted in an emergency: (A) The chief executive officer or person acting in his/her place during an emergency shall notify the director of the division, as soon as possible, of the nature and extent of the emergency and shall cause the members of the board of directors to be notified of the emergency in a manner as may be required by resolution of the board or order of the director of the division; and (B) The director of the division may, on oral request of the chief executive or person acting in his/her place, suspend or modify the requirements of any law of the state, regulation of the division or provision of the charter or bylaws of the association, whether that suspension or modification is requested prior to or after the association has been rendered practically incapable of complying with such requirement in the judgment of the director. The director shall notify the board of directors of the association in writing of any such suspension or modification granted and of the effective time. (5) At the end of the emergency or at such earlier time as the director may require, the chief executive officer or person acting in his/her capacity shall report to the director and to the board of directors in writing the nature of the emergency, the actions taken and the loss of or damage to any assets of the association caused by the emergency. (6) No officer, director or employee acting during an emergency in his/her best judgment under reasonable reliance on the provisions of this rule shall be liable for those actions except for willful misconduct. AUTHORITY: sections 369.139 and 369.299, RSMo 1994.* This rule originally filed as 4 CSR 260-12.020. This rule previously filed as 4 CSR 140-24.020. Original rule filed Sept. 28, 1971, effective Oct. 8, 1971. Rescinded and readopted: July 14, 1978, effective Nov. 13, 1978. Changed to 4 CSR 140-24.020, effective July 6, 1994 Moved to 20 CSR 114024.020, effective Aug. 28, 2006. *Original authority: 369.139, RSMo 1971, amended 1994 and 369.299, RSMo 1971, amended 1994.