379.560. Value of equitable interests of nonassenting stockholders or policyholders to be paid to them. - Missouri Statutes

Value of equitable interests of nonassenting stockholders orpolicyholders to be paid to them.

379.560. If the assent be obtained as provided in section379.535, but there be any stockholders or policyholders who havenot at such meeting given their assent to such propositions toreorganize and extend and continue the corporate existence of thecompany under the general insurance statutes of the state, andsuch stockholders or policyholders shall not thereafter and priorto the expiration of the time herein provided for the filing ofthe petition of said company in the circuit court have deliveredto such company their written assent or ratification of suchpropositions, then such equitable interests or proportions, ifany, as such stockholders or policyholders not so assenting orratifying such propositions have in the net assets which suchcompany had at the time originally limited by law or its charterfor the termination of its corporate existence shall beascertained and paid and distributed to them as herein provided.

(RSMo 1939 § 5999)

Prior revisions: 1929 § 5888; 1919 § 6298