361.430. On taking possession, director shall notify those holding assets--effect of notification. - Missouri Statutes

On taking possession, director shall notify those holdingassets--effect of notification.

361.430. 1. When the director shall have taken possessionof the property and business of any such corporation, he shallforthwith give notice of such fact to any and all banks, trustcompanies, associations and individuals holding any assets ofsuch corporation.

2. No corporation, association or individual having noticeor knowledge that the director has taken possession of suchcorporation, shall have a lien or charge against any of theassets of such corporation for any payment, advance or clearancethereafter made, or liability thereafter incurred.

(RSMo 1939 § 7920)

Prior revisions: 1929 § 5326; 1919 § 11709