Section 361.450

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 361

Effective - 02 Jan 1979, see footnote   

  361.450.  Disposition by director of property held by delinquent as bailee or depositary for hire. — 1.  The director may, after he has taken possession of any such corporation, cause to be mailed to all persons claiming to be, or appearing upon the books of such corporation to be, the owner or owners of any personal property theretofore left in the possession of such corporation as bailee or depositary for hire, or the lessee of any safe, vault or box, a notice in writing in a securely closed, postpaid, registered letter directed to each of such persons at his post-office address as recorded upon its books, or, if his name is not recorded in said books, at his last known post-office address, notifying such person to remove all such personal property within a period stated in said notice, and not less than sixty days from the date thereof.

  2.  If such property shall not have been removed within the time fixed by such notice, the director may apply to the circuit court of the county or city in which such property is located for an order directing him as to the disposition of such property; and he may cause any safe, vault or box held by, or on the premises of, such corporation to be thereafter opened in his presence or in the presence of one of the special deputy directors, and of a notary public, not an officer or in the employ of the corporation or of the director, and the contents, if any, to be sealed and distinctly marked by such notary public, with the name and address of the person in whose name such safe, vault or box stands upon the books of the corporation, and a list and description of the property therein to be attached thereto.  Such package so sealed and addressed, together with the list and description of the property therein, may be kept by the director in one of the general safes or boxes of the corporation until delivered to the person whose name appears thereon or until otherwise disposed of as directed by the court.

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(RSMo 1939 § 7922, A.L. 1978 H.B. 1634)

Prior revisions: 1929 § 5328; 1919 § 11711

Effective 1-02-79