Misapplication of funds of a financial institution
This law is about people who work at a bank or similar financial institution and steal or misuse money that belongs to the institution or that the institution is holding for someone else. If a worker, manager, or officer of a financial institution takes, misuses, or steals any money or assets, that is a crime. It is a class E felony, but if the amount taken or misused is $750 or more, it becomes a more serious class D felony.
Classifications stated in the statute. Actual outcomes vary.
570.217. of funds of a — penalties. — 1. A person commits the of misapplication of funds of a financial institution if, being an officer, , , or employee of, or connected in any capacity with, any financial institution, he or she , , or purposely misapplies any of the money, funds, or credits of such financial institution or any moneys, funds, , or entrusted to the or care of such financial institution, or to the custody or care of any such agent, officer, director, employee, or .
2. The offense of misapplication of funds of a financial institution is a , unless the amount embezzled, , or misapplied is seven hundred fifty dollars or more, in which case it is a .
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Source & history notes
(L. 1985 H.B. 408 § 570.195, A.L. 1991 H.B. 206, A.L. 2014 S.B. 491) Effective 1-01-17
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.