447.520. Stock, certificates and ownership--dividend profit--distribution or interest payment, held or owing by business association presumed abandoned, when.

MISSOURI STATUTES AND CODES

447.520. Stock, certificates and ownership--dividend profit--distribution or interest payment, held or owing by business association presumed abandoned, when.

Stock, certificates and ownership--dividend profit--distribution orinterest payment, held or owing by business association presumedabandoned, when.

447.520. 1. Any stock or other certificate of ownership, or anydividend, profit, distribution, interest, payment on principal, or othersum held or owing by a business association for or to a shareholder,certificate holder, member, bondholder, or other security holder, or aparticipating patron of a cooperative, who has not claimed it, orcorresponded in writing with the business association concerning it, withinseven years or five years as provided in section 447.536 after the dateprescribed for payment or delivery, is presumed abandoned if:

(1) It is held or owing by a business association organized pursuantto the laws of or created in this state; or

(2) It is held or owing by a business association doing business inthis state, but not organized pursuant to the laws of or created in thisstate, and the records of the business association indicate that the lastknown address of the person entitled thereto is in this state.

2. Any intangible interest in a business association, as evidenced bythe stock records or membership records of the association, is presumedabandoned if:

(1) The interest in the association is owned by a person who for morethan seven years or five years as provided in section 447.536 has neitherclaimed a dividend or other sum nor corresponded in writing with theassociation or otherwise indicated an interest as evidenced by a memorandumor other record on file with the association; and

(2) The association does not know the location of the owner at theend of such seven-year period or five-year period as provided in section447.536.

With respect to such interest, the business association shall be deemed theholder.

3. Any dividend or other distribution held for or owing to a personat the time the stock or other security to which such dividend or otherdistribution attaches is considered abandoned at the same time.