361.570. Dividends to creditors--priorities--disposition of unclaimed dividends. - Missouri Statutes

Dividends to creditors--priorities--disposition of unclaimeddividends.

361.570. 1. At any time after the date fixed by thedirector for the presentation of claims, the circuit court may byorder authorize the director upon his application to declare outof the funds remaining in his hands after the payment ofexpenses, one or more dividends.

2. Such order shall specify what claims, if any, areentitled to priority of payment, and shall direct the directorregarding the manner of payment of such prior claims. At anytime after the expiration of eight months from said date fixedfor the presentation of such claims, he may by like order declarea final dividend.

3. Such dividends shall be paid to such persons, in suchamounts, and upon such notice, as the circuit court in the countyor city in which the principal office of such corporation islocated may by order direct.

4. Dividends remaining unclaimed or unpaid in the hands ofthe director for six months after the order for finaldistribution shall be deposited by him as provided in section361.200.

(RSMo 1939 § 7934, A.L. 1978 H.B. 1634)

Prior revisions: 1929 § 5339; 1919 § 11722

Effective 1-2-79