361.600. Duties of director where stockholders elect another to liquidate.

MISSOURI STATUTES AND CODES

361.600. Duties of director where stockholders elect another to liquidate.

Duties of director where stockholders elect another to liquidate.

361.600. 1. In case the stockholders shall determine to appoint anagent or agents to continue such liquidation, they shall thereupon selectby ballot such agent or agents. A majority of the stock present and votingin person or by proxy shall be necessary to determine such question.

2. If such agent or agents shall be duly elected by the stockholders,the director may require such agent or agents to execute and deliver to hima bond to the state, in such amount, with such sureties, and in such formas shall be approved by him, conditioned upon the performance of all theduties of his or her or their trust; and thereupon the director shalltransfer and deliver to such agent or agents all the assets of suchcorporation then remaining in his or her hands.

3. Upon such transfer and delivery, the director shall be dischargedfrom any and all further liability to such corporation and its creditors.

4. Upon the transfer and delivery of said assets by the director, heor she shall file a certified copy of the proceedings of said meeting inthe public records of the division of finance.

5. No powers specially set out in its articles of association shallbe exercised by such corporation after the director has filed suchcertified copy in his or her office.