Section 361.570

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 361

Effective - 02 Jan 1979, see footnote   

  361.570.  Dividends to creditors — priorities — disposition of unclaimed dividends. — 1.  At any time after the date fixed by the director for the presentation of claims, the circuit court may by order authorize the director upon his application to declare out of the funds remaining in his hands after the payment of expenses, one or more dividends.

  2.  Such order shall specify what claims, if any, are entitled to priority of payment, and shall direct the director regarding the manner of payment of such prior claims.  At any time after the expiration of eight months from said date fixed for the presentation of such claims, he may by like order declare a final dividend.

  3.  Such dividends shall be paid to such persons, in such amounts, and upon such notice, as the circuit court in the county or city in which the principal office of such corporation is located may by order direct.

  4.  Dividends remaining unclaimed or unpaid in the hands of the director for six months after the order for final distribution shall be deposited by him as provided in section 361.200.

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(RSMo 1939 § 7934, A.L. 1978 H.B. 1634)

Prior revisions: 1929 § 5339; 1919 § 11722

Effective 1-02-79