reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.261 - Authority to issue orders — includes certain other powers.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 30 Apr 1990, see footnote
361.261. Authority to issue orders — includes certain other powers. —
1. The authority to issue an order under section 361.260 which requires a corporation or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such corporation to take affirmative action to correct any conditions resulting from any violation or practice with respect to which such order is issued includes the authority to require such corporation or such person to:
(1) Make restitution or provide reimbursement, indemnification, or guarantee against loss if:
(a) Such corporation or such person was unjustly enriched in connection with such violation or practice; or
(b) The violation or practice involved a reckless disregard for the law or any applicable regulations or prior order of the director;
(2) Restrict the growth of the corporation;
(3) Dispose of any loan or asset involved;
(4) Rescind agreements or contracts;
(5) Employ qualified officers or employees, who may be subject to approval by the director; and
(6) Take such other action as the director determines to be appropriate.
2. The authority to issue an order under section 361.260 includes the authority to place limitations on the activities or functions of the corporation or any director, officer, employee, agent, or other person participating in the conduct of the affairs of such corporation.
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(L. 1990 H.B. 1456)
Effective 4-30-90
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.264 - Notice of intention to remove or prohibit participation, content — hearing, failure to appear, effect — order issued when, effective when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1985
361.264. Notice of intention to remove or prohibit participation, content — hearing, failure to appear, effect — order issued when, effective when. —
A notice of intention to remove a director, officer, or other person from office or to prohibit his participation in the conduct of the affairs of a corporation shall contain a statement of the facts constituting grounds therefor, and shall fix a time and place at which a hearing will be held thereon. Unless such director, officer, or other person shall appear at the hearing in person, or by a duly authorized representative, he shall be deemed to have consented to the issuance of an order of such removal or prohibition. In the event of such consent or if upon the record made at any such hearing the director shall find that any of the grounds specified in such notice have been established, the director may issue such orders of suspension or removal from office, or prohibition from participation in the conduct of the affairs of the corporation, as he may deem appropriate. Any such order shall become effective at the expiration of thirty days after service upon such corporation and the director, officer, or other person concerned (except in the case of an order issued upon consent, which shall become effective at the time specified therein). Such order shall remain effective and enforceable except to such extent as it is stayed, modified, terminated, or set aside by action of the director or a reviewing court.
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(L. 1985 H.B. 408 § 361.265 subsec. 4)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.266 - Stay of suspension or prohibition, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1985
361.266. Stay of suspension or prohibition, procedure. —
Within ten days after any director, officer, or other person has been suspended from office, prohibited from participation in the conduct of the affairs of a corporation, or both, under subsection 4
*
of section 361.262, such director, officer, or other person may apply to the circuit court of the county in which the corporation is located or the circuit court of Cole County, for a stay of such suspension or prohibition pending the completion of the administrative proceedings pursuant to the notice served upon such director, officer, or other person under subsection 1 or 2 of section 361.262, and such court shall have jurisdiction to stay such suspension or prohibition.
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(L. 1985 H.B. 408 § 361.265 subsec. 5)
*Statutory reference to subsection "3" changed to "4" in accordance with section 3.060 based on renumbering in section 361.262 by S.B. 13, 2023.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.267 - Information, complaint or indictment of director, officers or other persons — certain charges, effect, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1985
361.267. Information, complaint or indictment of director, officers or other persons — certain charges, effect, procedure. —
Whenever a director or officer of a corporation, or other person participating in the conduct of the affairs of such corporation, is charged in any information or complaint authorized by a prosecuting attorney or a United States attorney, or in any indictment, with the commission of or participation in a crime involving dishonesty or breach of trust which is punishable by imprisonment for a term exceeding one year under state or federal law, the director may, if continued service or participation by the individual may pose a threat to the interests of the corporation's depositors or may threaten to impair the confidence in the corporation, by written notice served upon such director, officer, or other person, suspend him from office or prohibit him from further participation in any manner in the conduct of the affairs of the corporation. A copy of such notice shall also be served upon the corporation. Such suspension or prohibition shall remain in effect until such information, indictment or complaint is finally disposed of or until terminated by the director. In the event that a judgment of conviction with respect to such crime is entered against such director, officer, or other person, and at such time as such judgment is not subject to further appellate review, the director may, if continued service or participation by the individual may pose a threat to the interests of the corporation's depositors or may threaten to impair public confidence in the corporation, initiate action to remove such officer as described in subsection 1 of section 361.262.
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(L. 1985 H.B. 408 § 361.265 subsec. 6 subdiv. (1))
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.268 - Powers of the board of directors vested in director of finance, when — temporary directors appointed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1985
361.268. Powers of the board of directors vested in director of finance, when — temporary directors appointed. —
If at any time because of the suspension of one or more directors pursuant to sections 361.262 to 361.269 there shall be on the board of directors of a corporation less than a quorum of directors not so suspended, all powers or functions vested in or exercisable by such board shall vest in and be exercisable by the director or directors on the board not so suspended, until such time as there shall be a quorum of the board of directors. In the event all of the directors of a corporation are suspended pursuant to sections 361.262 to 361.269, the director shall appoint persons to serve temporarily as directors in their place and stead pending the termination of such suspensions, or until such time as those who have been suspended cease to be directors of the corporation and their respective successors take office.
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(L. 1985 H.B. 408 § 361.265 subsec. 6 subdiv. (2))
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.269 - Notice of suspension or removal, effective when — appeal to director, when — hearings, where held.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1985
361.269. Notice of suspension or removal, effective when — appeal to director, when — hearings, where held. —
1. A notice of suspension or order of removal issued pursuant to sections 361.267, 361.268 and this subsection shall become effective immediately but any director, officer, or other person concerned may, within thirty days of service of any notice of suspension or order of removal, request, in writing, an opportunity to appear before the director to show that the continued service to or participation in the conduct of the affairs of the corporation by such individual does not, or is not likely to, pose a threat to the interests of the corporation's depositors or threaten to impair public confidence in the corporation.
2. Any hearing provided for in sections 361.262 to 361.269 shall be held in a place which shall be determined by the director, giving due regard for the convenience to both the director and the party requesting the hearing.
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(L. 1985 H.B. 408 § 361.265 subsec. 6 subdiv. (3) and subsec. 7)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.270 - Report to attorney general and action by him in certain cases.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.270. Report to attorney general and action by him in certain cases. —
1. If any director or officer or employee of any corporation subject to the provisions of this chapter has abused his trust or been guilty of misconduct or malversation in his official position or employment injurious to the institution, the director may, in his discretion, communicate the facts to the attorney general, who shall thereupon institute such proceedings as the nature of the case may require.
2. Such proceedings may be for an order for the removal of one or more of the officers or members of the board of directors, or for any other remedy suggested by the conditions discovered to the court; and the court, or judge thereof in vacation, before whom such proceedings shall be instituted, shall have power forthwith to grant such orders, and in its or his discretion, from time to time, to modify or revoke the same and to grant such relief as the evidence, situation of the parties and the interest involved shall seem to require.
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(RSMo 1939 § 7905)
Prior revisions: 1929 § 5311; 1919 § 11699
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.280 - Proceedings in name of director for violations of the provisions of this chapter.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.280. Proceedings in name of director for violations of the provisions of this chapter. —
If any corporation, subject to the provisions of this chapter, shall refuse or fail, after due notice, to pay any assessment lawfully imposed upon it or him by the director; or if any such corporation or any officer, director, trustee, agent or employee of any such corporation shall refuse or fail, after due notice, to pay any penalty or forfeiture incurred under any provision of this chapter by such corporation, officer, director, trustee, agent or employee, or if any other corporation or person shall violate any of the provisions contained in this chapter, the director may in his discretion report the facts to the attorney general, who shall thereupon, in the name of the state at the relation and to the use of the director, institute such action or proceeding as the facts may warrant against such person, corporation, officer, director, trustee, agent or employee.
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(RSMo 1939 § 7903)
Prior revisions: 1929 § 5309; 1919 § 11697
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.290 - Penalty for neglect of duty or misfeasance or malfeasance in office.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.290. Penalty for neglect of duty or misfeasance or malfeasance in office. —
Any director, deputy, examiner, employee, clerk or stenographer who shall violate his oath of office or shall neglect or violate any of the duties imposed upon him by this chapter, or shall be guilty of any other misfeasance or malfeasance in office for which no other or different punishment is by this chapter provided, shall be deemed guilty of a felony, and upon conviction, shall be punished by imprisonment in the penitentiary for a term of not less than two years nor exceeding five years, or by a fine of not less than one hundred dollars nor more than one thousand dollars, or by imprisonment in the county or city jail for not less than one month nor more than twelve months, or by both such fine and imprisonment; and upon indictment of any such director, deputy, examiner, clerk or stenographer for any violation of this chapter, such officer or employee shall be disqualified from further discharging the duties of such office or position until such indictment is fully disposed of.
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(RSMo 1939 § 7888)
Prior revisions: 1929 § 5294; 1919 § 11682; 1909 § 1091
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.310 - Information to prosecuting attorney.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.310. Information to prosecuting attorney. —
Whenever the director of finance shall take charge or possession of any corporation, according to the provisions of section 361.300, it shall be his duty and he is hereby directed immediately and from time to time as the same appear during such charge or possession, to place before the prosecuting attorney of the county in which said corporation is located, all information and evidence concerning the affairs and conditions of said corporation showing or tending to show any and all violations of the criminal laws of this state by any officer, director or employee of said corporation; provided, that the word
"county"
as herein used shall be construed to include the City of St. Louis, and that the words
"prosecuting attorney"
shall be construed to include the proper prosecuting officer of the City of St. Louis.
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(RSMo 1939 § 7911)
Prior revision: 1929 § 5317
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.320 - Director may maintain action against officers, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.320. Director may maintain action against officers, when. —
At any time while the director is in possession of the property and business of any such corporation, he may within six years after the cause of action has accrued, institute and maintain in his name as finance director against its directors, trustees, managers or officers, or any of them, any action or proceeding which is vested in such corporation or in the stockholders or creditors thereof.
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(RSMo 1939 § 7936)
Prior revisions: 1929 § 5341; 1919 § 11724
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.330 - Corporation not to make assignment — duty when in failing condition.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.330. Corporation not to make assignment — duty when in failing condition. —
1. It shall be unlawful in this state for any corporation subject to the provisions of this chapter to make a voluntary general assignment of its business and affairs.
2. In case it shall find itself to be in a failing condition, it shall immediately place itself in the hands of the director.
3. Any deed of voluntary general assignment executed by any such corporation shall be null and void, and in case the officers or directors of any such institution shall endeavor to make any voluntary general assignment of its assets, the director shall immediately take possession thereof and proceed, as provided in section 361.340 and following.
4. All transfers of the notes, bonds, bills of exchange, or other evidence of debt owing to any corporation, or of deposits to its credit; all assignments of mortgages, securities on real estate or of judgments or decrees in its favor; all deposits of money, bullion or other valuable thing for its use, or for the use of any of its shareholders or creditors; and all payments of money to it, made after the commission of an act of insolvency, or in contemplation thereof, made with a view to prevent the application of its assets in the manner prescribed by this chapter, or with a view to the preference of one creditor to another, shall be utterly null and void.
5. No attachment, injunction or execution shall be issued against such corporation, or its property, before final judgment in any suit, action or proceeding in any state, county or municipal court.
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(RSMo 1939 § 7912)
Prior revisions: 1929 § 5318; 1919 § 11701; 1909 § 1084
CROSS REFERENCE:
Sale of whole or part of assets to another bank, 362.330
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.340 - Circumstances under which possession by director may terminate.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 25 Jun 2009, see footnote
361.340. Circumstances under which possession by director may terminate. —
When the director shall have duly taken possession of such corporation, under any provision of this chapter, he may hold such possession until its affairs are finally liquidated by him, unless:
(1) He shall have permitted such corporation to resume business pursuant to the provisions of section 361.370;
(2) The director shall have been directed by order of court to surrender such possession, pursuant to the provisions of section 361.360;
(3) The director shall have appointed the Federal Deposit Insurance Corporation as the liquidating agent of a bank insured thereby and the Federal Deposit Insurance Corporation shall have accepted the appointment;
(4) The stockholders of such corporation, at a meeting called by the director pursuant to the provisions of section 361.580, shall have duly determined to appoint and shall have appointed an agent or agents to continue the liquidation of such corporation, and such agent or agents shall have qualified to take possession of its remaining assets as provided in section 361.600;
(5) The depositors and other creditors of such corporation and the expenses of such liquidation shall have been paid in full.
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(RSMo 1939 § 7913, A.L. 1977 S.B. 420, A.L. 1978 H.B. 1634, A.L. 2009 H.B. 914)
Prior revisions: 1929 § 5319; 1919 § 11702
Effective 6-25-09
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.350 - Director may report delinquencies to attorney general to procure judgment of dissolution — reports presumptive evidence.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.350. Director may report delinquencies to attorney general to procure judgment of dissolution — reports presumptive evidence. —
1. Whenever the director is entitled to take possession of any such corporation for any reason set forth in section 361.310, he may report to the attorney general and specify in such report the delinquencies of such corporation; and the attorney general may institute an action to procure a judgment dissolving such corporation.
2. Every such report and every report of a duly instituted examination of such corporation, when duly verified by the certificate and seal of the finance director, shall be a presumptive evidence of the facts therein stated in any action or proceeding against such corporation instituted by the attorney general.
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(RSMo 1939 § 7914)
Prior revisions: 1929 § 5320; 1919 § 11703
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.360 - Director's possession may be challenged, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 02 Jan 1979, see footnote
361.360. Director's possession may be challenged, when. —
At any time within ten days after the director has taken possession of the property and business of any such corporation, such corporation, with the approval of its board of directors, may apply to the circuit court in the judicial district in which the principal office of such corporation is located, for an order requiring the director to show cause why he should not be enjoined from continuing such possession. The court may, upon good cause shown, direct the director to refrain from further proceedings and to surrender such possession.
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(RSMo 1939 § 7915, A.L. 1977 S.B. 420, A.L. 1978 H.B. 1634)
Prior revisions: 1929 § 5321; 1919 § 11704
Effective 1-02-79
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.365 - Director may appoint the Federal Deposit Insurance Corporation as liquidating agent — effect of.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 2005
361.365. Director may appoint the Federal Deposit Insurance Corporation as liquidating agent — effect of. —
The director may appoint the Federal Deposit Insurance Corporation as liquidating agent of any banking corporation insured thereby of which he has duly taken possession under any provision of this chapter, and the Federal Deposit Insurance Corporation as liquidating agent shall thereupon be vested with both legal and equitable title to all the assets, rights, claims and other real and personal property of the closed bank. The Federal Deposit Insurance Corporation as liquidating agent shall have power to perform all acts of the director in the liquidation of the closed bank.
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(L. 1977 S.B. 420, A.L. 2005 H.B. 707)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.370 - Director may surrender possession for resumption or liquidation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1949
361.370. Director may surrender possession for resumption or liquidation. —
1. Upon such conditions as he may approve, the director may surrender possession of such corporation to its officers or any of them to permit the resumption of business or the liquidation of the corporation.
2. Before such corporation is surrendered for purposes of liquidation, the officer or officers of the corporation shall enter into a good and sufficient personal or surety bond in an amount equal to the total amount of the corporation's liability, capital stock liability excepted; the bond to be conditioned that all of the aforesaid liability be discharged within one year from the date of the making of the bond. The sufficiency of the bond shall be passed upon and approved by both the circuit judge of the county or city in which the corporation is located and the director, and be filed with the circuit clerk of said county or city. The bond shall be for the benefit of the depositors and other creditors. In the event of default, any depositor or other creditor may bring his action singly or collectively or if the claim be assigned the assignee may bring action in like manner.
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(RSMo 1939 § 7916, A. 1949 H.B. 2084)
Prior revisions: 1929 § 5322; 1919 § 11705
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.380 - Surrender for liquidation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1949
361.380. Surrender for liquidation. —
1. Whenever the director shall surrender possession of such corporation under the provisions of section 361.370 for the purposes of liquidation, the corporation shall not receive deposits or engage in the general banking business.
2. The officers, as trustees of the corporation, in the corporate name, may prosecute and defend any action and legal proceeding, execute, acknowledge and deliver any deed, assignment, bill of sale, release, extension, satisfaction, and other instruments necessary and proper to effectuate any sale, lease, or transfer of real or personal property or execute any other instrument which the corporation was heretofore empowered to execute, for the proper liquidation of the corporation.
3. If at the end of one year after entering into the bond as required by section 361.370 all the liabilities of the corporation shall be discharged, the bond shall be terminated, and the remaining assets of the corporation shall be divided among the stockholders. Nothing in this section or section 361.360 shall be construed to release any person from any liability as provided by sections 362.345 to 362.355.
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(RSMo 1939 § 7916, A. 1949 H.B. 2084)
Prior revisions: 1929 § 5322; 1919 § 11705
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.390 - Liquidation — special deputy may be appointed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 2000
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.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.400 - Director's assistant may be appointed as special deputy.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1949
361.400. Director's assistant may be appointed as special deputy. —
The director in the manner prescribed in section 361.390 may appoint a deputy director or examiner as such special deputy to assist in the liquidation of any corporation in his possession.
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(RSMo 1939 § 7886, A. 1949 H.B. 2084)
Prior revisions: 1929 § 5292; 1919 § 11680; 1909 § 1089
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.410 - Expenses of liquidation, how paid.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 02 Jan 1979, see footnote
361.410. Expenses of liquidation, how paid. —
1. The director shall pay out of the funds in his hands, of such corporation, all expenses of liquidation, subject to the approval of the circuit court in the county or city in which the principal office of such corporation is located, and upon notice of the application for such approval to such corporation.
2. He shall, in like manner, fix and pay the compensation of special deputy directors, assistants, counsel and other employees appointed to assist him in such liquidation pursuant to the provisions of this chapter. But a special deputy who, as examiner acting under commission from the director, has previously examined the books, papers and affairs of such corporation, shall not receive compensation as such special deputy which exceeds by more than five dollars a day the per diem compensation received by him as examiner at the time of making such examination.
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(RSMo 1939 § 7918, A.L. 1978 H.B. 1634)
Prior revisions: 1929 § 5324; 1919 § 11707
Effective 1-02-79
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.420 - Procedure of director to obtain possession of pleadings in actions against which attorneys' liens are asserted.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.420. Procedure of director to obtain possession of pleadings in actions against which attorneys' liens are asserted. —
1. When the director is in possession of the business and property of any such corporation, and attorneys' liens are asserted by attorneys of such corporation against any causes of action to which such corporation is a party, or against pleadings or other papers in the possession of such attorneys relating to such causes of action, or if such liens are asserted against any evidences of title to any assets or against any of the assets of such corporation, then in the possession of such attorneys, the director may institute special proceedings and petition the court to fix and determine the amount of said liens.
2. Such proceedings shall be instituted in the county or city in which the principal office of such corporation is located.
3. Upon application of the director and upon notice to such attorneys to be prescribed by the court, the court or judge thereof in vacation, may, by order prior to final order in such proceeding, direct such attorneys to deliver to the director all property of such corporation, against which such liens are asserted, together with such consents to substitution of attorneys as the court may direct, upon the director furnishing security to such attorneys in the manner and to an amount to be fixed by the court.
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(RSMo 1939 § 7919)
Prior revisions: 1929 § 5325; 1919 § 11708
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.430 - On taking possession, director shall notify those holding assets — effect of notification.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.430. On taking possession, director shall notify those holding assets — effect of notification. —
1. When the director shall have taken possession of the property and business of any such corporation, he shall forthwith give notice of such fact to any and all banks, trust companies, associations and individuals holding any assets of such corporation.
2. No corporation, association or individual having notice or knowledge that the director has taken possession of such corporation, shall have a lien or charge against any of the assets of such corporation for any payment, advance or clearance thereafter made, or liability thereafter incurred.
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(RSMo 1939 § 7920)
Prior revisions: 1929 § 5326; 1919 § 11709
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.440 - Inventory of assets to be made and filed.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 2019, 2 histories
361.440. Inventory of assets to be made and filed. —
After the director shall have taken possession of the property and business of such corporation, he or she shall make an inventory of the assets of such corporation. When the director shall have decided that he or she will not permit the corporation to resume business pursuant to the provisions of section 361.370, he or she shall file one copy of such inventory in the public records of the division of finance.
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(RSMo 1939 § 7921, A.L. 2000 S.B. 896, A.L. 2019 S.B. 179)
Prior revisions: 1929 § 5327; 1919 § 11710
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.450 - Disposition by director of property held by delinquent as bailee or depositary for hire.

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
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.460 - Effect of director's notice to remove upon contract of bailment or of deposit for hire.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.460. Effect of director's notice to remove upon contract of bailment or of deposit for hire. —
After the director shall have duly mailed a notice in writing, as provided in section 361.450, the contract of bailment or of deposit for hire, or lease of safe, vault or box, if any, between the persons duly notified and the corporation, shall cease and determine upon the date for removal fixed in such notice, and the amount of the unearned rent or charges, if any, paid by such person shall become a debt of the corporation to said person.
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(RSMo 1939 § 7923)
Prior revisions: 1929 § 5329; 1919 § 11712
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.470 - Liquidation and conservation of assets — compounding debts and compromising certain claims.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 2000
361.470. Liquidation and conservation of assets — compounding debts and compromising certain claims. —
The director is authorized, upon taking possession of the property and business of such corporation, to liquidate the affairs thereof and to do all acts and to make such expenditures as in his or her judgment are necessary to conserve its assets and business. He or she shall proceed to collect the debts due. He or she may, upon an order of the circuit court of Cole County, sell or compound all bad or doubtful debts held by, and compromise claims against such corporation, other than deposit claims and, upon such terms as the court shall direct, may sell or otherwise dispose of all or any of the real and personal property of such corporation.
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(RSMo 1939 § 7924, A.L. 1978 H.B. 1634, A.L. 2000 S.B. 896)
Prior revisions: 1929 § 5330; 1919 § 11713
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.490 - Deposit of moneys collected — preference.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1967
361.490. Deposit of moneys collected — preference. —
The moneys collected by the director shall be from time to time deposited in one or more state banks or trust companies and, in case of the insolvency or voluntary or involuntary liquidation of the depositary, these deposits shall be entitled to priority of payment on an equality with any other priority given by this chapter.
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(RSMo 1939 § 7926, A.L. 1967 p. 445)
Prior revisions: 1929 § 5331; 1919 § 11714
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.500 - Director's power to sue, execute instruments for delinquents — actions and proceedings preferred.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 02 Jan 1979, see footnote
361.500. Director's power to sue, execute instruments for delinquents — actions and proceedings preferred. —
For the purpose of executing any of the powers and performing any of the duties hereby conferred upon him, the director may, in the name of the delinquent corporation, prosecute and defend any and all actions and legal proceedings. Any such action or proceeding, upon application of the director, shall be entitled to the same preference to which an action or proceeding by or against a receiver appointed by the court is entitled in any court of the state. He may, in the name of the delinquent corporation, execute, acknowledge and deliver any and all deeds, assignments, bills of sale, releases, extensions, satisfactions and other instruments necessary and proper to effectuate any sale, lease or transfer of real or personal property or to carry into effect any power conferred or duty imposed upon him by this chapter or by order of the circuit court. Any instrument executed pursuant to the authority hereby given shall be as valid and effectual, for all purposes, as though the same had been executed by the officers of the delinquent corporation by authority of its board of directors.
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(RSMo 1939 § 7927, A.L. 1978 H.B. 1634)
Prior revisions: 1929 § 5332; 1919 § 11715
Effective 1-02-79
CROSS REFERENCE:
Conveyance of real estate by director to urban redevelopment corporation, 353.120
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.510 - Notice to creditors to make proof of claims.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.510. Notice to creditors to make proof of claims. —
1. When the director shall have taken possession of such corporation, and shall have determined to liquidate its affairs, he shall notify all persons who may have claims against such corporation to present same to him and make proper proof thereof within four months from the date of said notice and at a place specified therein, and shall specify in said notice the last date for presenting said proofs.
2. He shall cause said notice to be mailed to all persons whose names appear as creditors upon the books of the corporation. He shall also cause said notice to be inserted weekly in such newspapers as he may direct for three consecutive months, the first insertion thereof to be published more than ninety days before the last day fixed in said notice for presenting proof of claims.
3. After the date specified in such notice as the last date for presenting proof of claims the director shall have no power to accept any claim.
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(RSMo 1939 § 7928)
Prior revisions: 1929 § 5333; 1919 § 11716
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.520 - Director to list claims duly presented.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 2019, 2 histories
361.520. Director to list claims duly presented. —
The director shall make a complete list of all claims duly presented, and shall specify therein the name of the claimant, the nature of the claim, and the amount thereof.
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(RSMo 1939 § 7929, A.L. 2000 S.B. 896, A.L. 2019 S.B. 179)
Prior revisions: 1929 § 5334; 1919 § 11717
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.530 - Objections to claims — procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 02 Jan 1979, see footnote
361.530. Objections to claims — procedure. —
1. Within thirty days after the last date fixed in said notice to creditors to present and make proof of claims, objections to any claim duly presented may be made by any party interested, by filing with the director such objections in writing, signed by the objector and duly verified.
2. Unless the director rejects any claim to which objections have been duly filed with him, he shall, within thirty days after the time to file such objections has expired, apply to the circuit court upon notice to the objector for an order directing the director as to the disposition of said claim.
3. The court may thereupon dispose of said objections or may order a reference for that purpose.
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(RSMo 1939 § 7930, A.L. 1978 H.B. 1634)
Prior revisions: 1929 § 5335; 1919 § 11718
Effective 1-02-79
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.540 - Claims approved or rejected — list of such claims.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 2000
361.540. Claims approved or rejected — list of such claims. —
1. The director shall, not later than thirty days after the time has expired to file objections to claims duly presented, approve or reject every duly filed claim except claims as to which objections are still pending undetermined by the court or judge.
2. Every claim approved by him, he or she shall endorse "approved" and file so endorsed in his or her office.
3. If he or she doubts the justice or validity of any claim, he or she shall reject such claim and shall endorse the same "rejected" and file said claim so endorsed in his or her office. He or she shall cause notice of such rejection to be served upon the claimant either personally or by mail.
4. The director shall not determine priorities, in approving or rejecting claims; but approved claims shall be presented to the circuit court of Cole County pursuant to section 361.570 for determination as to their priority of payment.
5. Within thirty days after the director has approved or rejected all claims duly filed, he or she shall list all claims approved and all rejected by him and file one copy of said list in the public records of the division of finance.
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(RSMo 1939 § 7931, A.L. 2000 S.B. 896)
Prior revisions: 1929 § 5336; 1919 § 11719
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.550 - Effect of accepting claims — statute of limitations for action upon claims not accepted — necessary allegations.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.550. Effect of accepting claims — statute of limitations for action upon claims not accepted — necessary allegations. —
1. When the director has approved a duly filed claim and has filed the same endorsed "approved" in his office, the claimant, unless such claim is entitled by law to priority of payment, shall be entitled to share ratably with other general creditors in the distribution of the assets of such corporation as such assets are distributed pursuant to section 361.570.
2. When the time within which the director is required to approve or reject claims has expired and at any time within six months thereafter, a claimant whose claim has been duly filed and has not been approved by the director may institute and maintain an action thereon against such corporation. No action shall be maintained against such corporation while the director is in possession of its affairs and business unless brought within the period of limitation specified in this section.
3. In all actions or proceedings instituted against such corporation while the director is in possession of its property and business, the plaintiff shall be required to allege and prove that the claim upon which the action is instituted was duly filed and that sixty days have elapsed since the expiration of time for filing said claims and that said claim has not been approved.
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(RSMo 1939 § 7932)
Prior revisions: 1929 § 5337; 1919 § 11720
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 361 - Division of Finance and Powers of Director of Finance › Section 361.560 - Judgments recovered after director takes possession shall not be liens.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 361
• Effective - 28 Aug 1939
361.560. Judgments recovered after director takes possession shall not be liens. —
A lien shall not attach to any of the property or assets of such corporation by reason of the entry of any judgment recovered against such corporation after the director has taken possession of its property and business and so long as such possession continues.
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(RSMo 1939 § 7933)
Prior revisions: 1929 § 5338; 1919 § 11721