Missouri Laws 238.355 – Dissolution by commission, procedures, limitations
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1. The commission may alter the organization, project or activities of the corporation by written directions to the board.
2. The commission may dissolve the corporation. The commission shall not dissolve the corporation until all outstanding debts and obligations of the corporation have been paid in full, or until any receivership or other appropriate action to conclude the affairs of an insolvent corporation has been completed. The commission shall only dissolve a corporation by judicial proceedings as specified in chapter 355.
Terms Used In Missouri Laws 238.355
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.