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
---- end of effective 28 Aug 1939 ----
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