361.470. Liquidation and conservation of assets--compounding debts and compromising certain claims. - Missouri Statutes

Liquidation and conservation of assets--compounding debts andcompromising certain claims.

361.470. The director is authorized, upon taking possession of theproperty and business of such corporation, to liquidate the affairs thereofand to do all acts and to make such expenditures as in his or her judgmentare necessary to conserve its assets and business. He or she shall proceedto collect the debts due. He or she may, upon an order of the circuit courtof Cole County, sell or compound all bad or doubtful debts held by, andcompromise claims against such corporation, other than deposit claims and,upon such terms as the court shall direct, may sell or otherwise dispose ofall or any of the real and personal property of such corporation.

(RSMo 1939 § 7924, A.L. 1978 H.B. 1634, A.L. 2000 S.B. 896)

Prior revisions: 1929 § 5330; 1919 § 11713