379.565. Suit in circuit court to determine value. - Missouri Statutes

Suit in circuit court to determine value.

379.565. In such event, said company shall within six monthsafter the time originally limited by law or its charter for thetermination of its corporate existence file a petition in equityin the circuit court of the county where its principal office orplace of business shall be located setting forth in its petitionthe facts regarding the proceedings taken by it toward suchreorganization and extension and continuance of the corporateexistence of such company, the condition of the company and adescription of its assets at the time so as aforesaid limited forthe termination of its corporate existence, and if a stockcompany the amount of its capital stock and the number ofstockholders and the amount of the stock held by them,respectively, assenting to or ratifying and not assenting to orratifying such reorganization and extension and continuance ofthe corporate existence of such company, or if a mutual companythe number of policyholders respectively assenting to orratifying and not assenting to or ratifying the same, or if astock and mutual company the number of stockholders respectivelyassenting to or ratifying and not assenting to or ratifying thesame and the amount of stock held by them respectively and thenumber of policyholders in the mutual department respectivelyassenting to or ratifying and not assenting to or ratifying thesame, and praying the court to ascertain and by its judgment anddecree to determine the persons who were such stockholders orpolicyholders of said company at the time originally limited bylaw or its charter for the termination of its corporate existencewho have not assented to or ratified such reorganization andextension and continuance of the corporate existence of suchcompany and the value of their respective equitable interests orproportions, if any, in the net assets which such company had atthe time originally limited by law or its charter for thetermination of its corporate existence, and authorizing anddirecting it to pay to such persons the value of their respectiveequitable interests or proportions in such net assets in fullsatisfaction of their respective claims and interests in suchassets.

(RSMo 1939 § 5999)

Prior revisions: 1929 § 5888; 1919 § 6298