Missouri Laws 361.430 – On taking possession, director shall notify those holding assets — effect ..
Current as of: 2023 | Check for updates
|
Other versions
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.
Terms Used In Missouri Laws 361.430
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes real and personal property. See Missouri Laws 1.020