Missouri Laws 361.320 – Director may maintain action against officers, when
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Terms Used In Missouri Laws 361.320
- 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.
- Property: includes real and personal property. See Missouri Laws 1.020
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.