☰ Revisor of Missouri


Chapter 361

< > Effective - 28 Aug 1939 bottom

  361.200.  Unclaimed deposits, dividends and interest — deposit by director in trust — preference. — 1.  The director may take and hold as trustee for the owners thereof any sums which remain due to and unclaimed by any creditor, depositor, stockholder or shareholder of any corporation, to which this chapter is applicable, after the completion of the voluntary or involuntary liquidation of the business and affairs of such corporation.

  2.  Whenever such sums are received by the director and he is not in possession of the business and affairs of such corporation, he shall give his receipt for such moneys and shall forthwith deposit them in one or more solvent state banks, trust companies or savings banks, to the credit of the director in trust for the persons entitled thereto.

  3.  At the completion of a liquidation by the director or any receiver, he shall in like manner deposit such moneys at the expiration of six months after the order for final distribution.

  4.  All such deposits by the director shall be entitled to priority of payment in case of the insolvency or voluntary or involuntary liquidation of the depositary on an equality with any other priority given by this chapter.


(RSMo 1939 § 7897)

Prior revisions: 1929 § 5303; 1919 § 11691

(1951) Where, after closing of bank, plans were adopted resulting in transfer of part of assets and equal percent of liabilities to another bank and remainder to liquidating trustees, transfer to trustees was assignment for benefit of creditors under § 470.010 so that unclaimed liquidating dividends in hands of trustees escheat. Jones v. Fidelity Nat. Bank & Trust Co., 362 Mo. 712, 243 S.W.2d 970.

---- end of effective  28 Aug 1939 ----

use this link to bookmark section  361.200

Effective dates prior to 1940 may not be the actual effective date. See FAQ 'When do laws become effective?'

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Missouri Senate
State of Missouri
Missouri House