354.345. Court decree of specific performance--membership contract, failure of corporation to comply, procedure, effect. - Missouri Statutes

Court decree of specific performance--membership contract,failure of corporation to comply, procedure, effect.

354.345. Any person, who has heretofore obtained or may hereafterobtain, in any of the courts of this state, a decree against any corporationsubject to the provisions of sections 354.010 to 354.380 doing business inthis state, commanding or directing said corporation to specifically perform amembership contract, may, if the corporation against which said decree isobtained, fails, for a period of fifteen days after the rendition of saiddecree, to comply with the same, obtain a copy of said decree, certified tounder the hand and seal of the clerk of the court in which said decree wasrendered, and transmit the same, together with the certificate of said clerk,reciting therein the failure of such corporation to comply with said decree,and transmit the same to the director of the department of insurance,financial institutions and professional registration of the state of Missouri,and immediately upon receipt thereof, the said director of the department ofinsurance, financial institutions and professional registration shall causesuch corporation to be notified of the fact of the filing of such certifiedcopy of said decree and certificate, and if such corporation fails for aperiod of thirty days thereafter to comply with said decree, the certificateof authority or license to do business issued or granted to such corporationshall immediately be suspended or revoked by the director of the department ofinsurance, financial institutions and professional registration, until suchdecree shall be satisfied; provided, however, the foregoing shall not beapplicable while an appeal is pending if a supersedeas bond shall have beengiven.

(L. 1983 H.B. 127)