Missouri Revised Statutes













Chapter 352

Religious and Charitable Associations--Charitable Gift Annuities

←352.200

Section 352.210.1

352.220→

August 28, 2015

Decree of dissolution--disposition of property.

352.210. 1. If upon a hearing of such application the court shall be

satisfied that the prayer of such petition can be granted without prejudice

of the public welfare, or the interest of the members of the association, or

the creditors of the same, it may enter a judgment or decree dissolving said

association, and to provide by such judgment for the vesting of the property

of such association, in a receiver or receivers, to be appointed by the court,

and in his or their successors in office.



2. Such receiver or receivers, upon giving sufficient security, to be

approved by the court for the faithful performance of his or their duties,

shall succeed to the title of such association in and to all its property and

estate, and shall hold the same in trust for the creditors thereof, and other

persons who may be entitled thereto, and shall receive, collect, sue for,

recover, hold, manage, dispose of the same under and in pursuance to the

orders of such court, to be made from time to time in that behalf according

to right and justice.



3. Any surplus remaining after paying the debts of such association

shall, except as herein provided, be distributed among the persons who were

members of such association at the time of such dissolution, or their legal

representatives respectively, in equal shares, unless for good cause shown

the court shall otherwise order; provided, that no property devoted to

religious, literary or charitable uses shall be diverted from the objects for

which they were granted by means of the powers herein given to any association

to dissolve, but the same shall be preserved by the decree of the court.



(RSMo 1939 § 5464)







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