361.450. Disposition by director of property held by delinquent as bailee or depositary for hire. - Missouri Statutes

Disposition by director of property held by delinquent as bailee ordepositary for hire.

361.450. 1. The director may, after he has taken possessionof any such corporation, cause to be mailed to all personsclaiming to be, or appearing upon the books of such corporationto be, the owner or owners of any personal property theretoforeleft in the possession of such corporation as bailee ordepositary for hire, or the lessee of any safe, vault or box, anotice in writing in a securely closed, postpaid, registeredletter directed to each of such persons at his post-officeaddress as recorded upon its books, or, if his name is notrecorded in said books, at his last known post-office address,notifying such person to remove all such personal property withina period stated in said notice, and not less than sixty days fromthe date thereof.

2. If such property shall not have been removed within thetime fixed by such notice, the director may apply to the circuitcourt of the county or city in which such property is located foran order directing him as to the disposition of such property;and he may cause any safe, vault or box held by, or on thepremises of, such corporation to be thereafter opened in hispresence or in the presence of one of the special deputydirectors, and of a notary public, not an officer or in theemploy of the corporation or of the director, and the contents,if any, to be sealed and distinctly marked by such notary public,with the name and address of the person in whose name such safe,vault or box stands upon the books of the corporation, and a listand description of the property therein to be attached thereto.Such package so sealed and addressed, together with the list anddescription of the property therein, may be kept by the directorin one of the general safes or boxes of the corporation untildelivered to the person whose name appears thereon or untilotherwise disposed of as directed by the court.

(RSMo 1939 § 7922, A.L. 1978 H.B. 1634)

Prior revisions: 1929 § 5328; 1919 § 11711

Effective 1-2-79