Missouri § 361.590 Duties of director where he continues liquidation — termination of corporate existence.

Missouri Statutes

§ 361.590 — Duties of director where he continues liquidation — termination of corporate existence.

Missouri § 361.590

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

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

This text of Missouri § 361.590 (Duties of director where he continues liquidation — termination of corporate existence.) 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. § 361.590 (2026).

Text

1.In case it is determined to continue the liquidation under the director, he shall continue the liquidation of the affairs of such corporation and after paying the expenses thereof shall distribute the proceeds among the stockholders in proportion to the several holdings of stock and in such manner and upon such notice as may be directed by order of the circuit court.

2.Upon a petition by the director showing that all the assets of such corporation have been duly distributed and that unclaimed sums have been duly deposited by him as provided in section 361.200 and that more than one year has elapsed since the last required publication of notice to creditors to present their claims, and upon such notice as the court may prescribe, the circuit court may, on such terms as justice requir

Free access — add to your briefcase to read the full text and ask questions with AI

1. In case it is determined to continue the liquidation under the director, he shall continue the liquidation of the affairs of such corporation and after paying the expenses thereof shall distribute the proceeds among the stockholders in proportion to the several holdings of stock and in such manner and upon such notice as may be directed by order of the circuit court.

2. Upon a petition by the director showing that all the assets of such corporation have been duly distributed and that unclaimed sums have been duly deposited by him as provided in section 361.200 and that more than one year has elapsed since the last required publication of notice to creditors to present their claims, and upon such notice as the court may prescribe, the circuit court may, on such terms as justice requires, make an order affirming such disposition of such unclaimed sums and declaring such corporation dissolved and the corporate existence thereof terminated. Upon the filing of a certified copy of such order in the office of the director, the existence of such corporation shall cease and determine.