238.357. Dissolution by board, procedures. - Missouri Statutes

Dissolution by board, procedures.

238.357. 1. Whenever the board by resolution shalldetermine that the purposes for which the corporation was formedhave been complied with and that all obligations of thecorporation have been fully paid or that appropriate judicialaction to conclude the affairs of an insolvent corporation hasbeen completed, the board shall, with the commission's priorwritten approval, dissolve the corporation.

2. It is unnecessary for the board of an insolventcorporation or the commission to take any action to dissolvethat corporation if a receivership or other appropriate judicialaction has already concluded the affairs of that corporation. Acopy of the appropriate order or decree in the judicialproceeding shall be filed with the secretary of state, who shallissue a certificate of dissolution of that insolvent corporationwithout charge.

(L. 1990 S.B. 479 & 649 § 33)

Effective 5-30-90