375.660. Disposition of assets. - Missouri Statutes

Disposition of assets.

375.660. 1. If the court directs the director toliquidate, settle or wind up the affairs of the defendant, saiddirector shall take immediate possession of the assets, books andpapers of the defendant, and unless disposition of the assets ofthe defendant is made by a reinsurance agreement as may beprovided by law, he shall sell and dispose of the real estate andother property of the defendant, subject to the approval of thecourt, and may execute in his own name, as director, allnecessary and proper conveyances of the same; he may also, in hisown name as such director, maintain and defend all actions in thecourts of this or any other state, or of the United States,relating to the defendant, its assets, liabilities and business.

2. This section shall apply only to proceedings institutedbefore August 28, 1991.

(RSMo 1939 § 6059, A.L. 1992 H.B. 1574)

Prior revisions: 1929 § 5948; 1919 § 6356; 1909 § 7086