Section 350.030

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 350

Effective - 28 Aug 1975   

  350.030.  Attorney general to enforce — venue — divestment of lands, failure, effect of. — If the attorney general finds a corporation is violating sections 350.010 to 350.030, he shall institute an action in the circuit court of Cole County, Missouri, if a foreign corporation, and if a Missouri corporation in the circuit court of any county in which the corporation owns any agricultural lands or if the land is located in two or more counties, then in the circuit court of a county in which a part of the land is located.  The attorney general shall file a notice of the pendency of the action with the recorder of deeds of each county in which any portion of said lands are located.  If the court finds that the lands in question are being held or used in violation of sections 350.010 to 350.030, it shall enter an order so declaring.  The court shall file for record its order with the recorder of deeds of each county in which any portion of said lands are located.  Thereafter, the corporation owning the land shall comply with the orders of the court, or if so ordered shall have a period of two years from the date of such order to divest itself of such land.  The two-year limitation period shall be a covenant running with the title to the land against any corporate grantee or corporate assignee or the successor corporation of such corporation, except those corporations excluded by section 350.015.  Any lands not divested within the time prescribed shall be ordered sold by the court at public sale in the manner prescribed by law for the foreclosure of a mortgage on real estate for default in payment.

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(L. 1975 H.B. 655 § 4)