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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 361

previous next Effective - 28 Aug 2000bottom

  361.390.  Liquidation — special deputy may be appointed. — 1.  The director may, by certificate, under his or her hand and official seal, appoint one or more special deputy directors as agent or agents to assist him in liquidating the business and affairs of any corporation in his or her possession.

  2.  The director shall file such certificate in the public records of the division of finance.

  3.  He or she may, from time to time, delegate such special deputy director to perform such duties connected with such liquidation as he or she may deem proper.  He or she may employ such expert assistants and counsel and may retain such of the officers or employees of such corporation as he or she may deem necessary in the liquidation and distribution of the assets of such corporation.

  4.  He or she shall require such security as he or she may deem proper from his or her agents and assistants appointed pursuant to the provisions of this section.

  5.  The director may appoint a bank or trust company as such special deputy director and any bank or trust company receiving and accepting any such appointment shall be fully authorized and empowered to do any and all acts and things which the director may deem necessary and advisable in liquidating the business and affairs of the corporation in his or her possession; provided, however, that no salaries or attorney fees shall be paid unless approved by the circuit court in Cole County, which circuit court may refuse to approve any salaries or attorney fees that it may deem exorbitant, and set a less fee or salary, which less fee or salary shall be the* amount paid.

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(RSMo 1939 § 7917, A.L. 1978 H.B. 1634, A.L. 2000 S.B. 896)

Prior revisions: 1929 § 5323; 1919 § 11706

*Word "the" does not appear in original rolls.


---- end of effective   28 Aug 2000 ----

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