Missouri § 361.380 Surrender for liquidation.

Missouri Statutes

§ 361.380 — Surrender for liquidation.

Missouri § 361.380

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 361Division of Finance and Powers of Director of Finance

This text of Missouri § 361.380 (Surrender for liquidation.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 361.380 (2026).

Text

1.Whenever the director shall surrender possession of such corporation under the provisions of section 361.370 for the purposes of liquidation, the corporation shall not receive deposits or engage in the general banking business.

2.The officers, as trustees of the corporation, in the corporate name, may prosecute and defend any action and legal proceeding, execute, acknowledge and deliver any deed, assignment, bill of sale, release, extension, satisfaction, and other instruments necessary and proper to effectuate any sale, lease, or transfer of real or personal property or execute any other instrument which the corporation was heretofore empowered to execute, for the proper liquidation of the corporation.

3.If at the end of one year after entering into the bond as required by secti

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1. Whenever the director shall surrender possession of such corporation under the provisions of section 361.370 for the purposes of liquidation, the corporation shall not receive deposits or engage in the general banking business.

2. The officers, as trustees of the corporation, in the corporate name, may prosecute and defend any action and legal proceeding, execute, acknowledge and deliver any deed, assignment, bill of sale, release, extension, satisfaction, and other instruments necessary and proper to effectuate any sale, lease, or transfer of real or personal property or execute any other instrument which the corporation was heretofore empowered to execute, for the proper liquidation of the corporation.

3. If at the end of one year after entering into the bond as required by section 361.370 all the liabilities of the corporation shall be discharged, the bond shall be terminated, and the remaining assets of the corporation shall be divided among the stockholders. Nothing in this section or section 361.360 shall be construed to release any person from any liability as provided by sections 362.345 to 362.355 .