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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 375back to chapter 375

  375.660.  Disposition of assets. — 1.  If the court directs the director to liquidate, settle or wind up the affairs of the defendant, said director shall take immediate possession of the assets, books and papers of the defendant, and unless disposition of the assets of the defendant is made by a reinsurance agreement as may be provided by law, he shall sell and dispose of the real estate and other property of the defendant, subject to the approval of the court, and may execute in his own name, as director, all necessary and proper conveyances of the same; he may also, in his own name as such director, maintain and defend all actions in the courts of this or any other state, or of the United States, relating to the defendant, its assets, liabilities and business.

  2.  This section shall apply only to proceedings instituted before August 28, 1991.

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(RSMo 1939 § 6059, A.L. 1992 H.B. 1574)

Prior revisions: 1929 § 5948; 1919 § 6356; 1909 § 7086


< end of effective 28 Aug 1992 >

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