516.420. When not to apply to corporations. - Missouri Statutes

When not to apply to corporations.

516.420. None of the provisions of sections 516.380 to516.420 shall apply to suits against moneyed corporations oragainst the directors or stockholders thereof, to recover anypenalty or forfeiture imposed, or to enforce any liabilitycreated by the act of incorporation or any other law; but allsuch suits shall be brought within six years after the discoveryby the aggrieved party of the facts upon which such penalty orforfeiture attached, or by which such liability was created.

(RSMo 1939 § 3790)

Prior revisions: 1929 § 3400; 1919 § 3745; 1909 § 4953

(2006) Six-year limitations period applied to mortgage finance company as a "moneyed corporation" under section. Schwartz v. Bann-Cor Mortgage, 197 S.W.3d 168 (Mo.App.W.D.).