361.580. Director shall call stockholders' meeting after creditors are paid in full--proceedings at such meeting. - Missouri Statutes

Director shall call stockholders' meeting after creditors are paid infull--proceedings at such meeting.

361.580. 1. Whenever the director shall have paid to eachcreditor of any stock corporation whose claim has been dulyproved the full amount of such claim, and shall have made properprovision for claims in litigation and not finally determined,and shall have paid all the expenses of liquidation, he shallcall a meeting of the stockholders of such corporation by causingnotice of the time and place of such meeting to be published atleast once a week for three successive weeks in one or morenewspapers selected by him and published in the county or citywhere the principal office of such corporation is located.

2. At such meeting, the stockholders shall determine whetherthe director shall continue as liquidator to wind up the affairsof such corporation, or whether the stockholders themselves shallelect an agent or agents for that purpose.

3. In determining these matters, the stockholders shall voteby ballot in person or by proxy. Each share of stock shall beentitled to one vote and the vote of a majority of the issuedstock shall be necessary to a determination.

(RSMo 1939 § 7935)

Prior revisions: 1929 § 5340; 1919 § 11723