361.500. Director's power to sue, execute instruments for delinquents--actions and proceedings preferred.
Director's power to sue, execute instruments for delinquents--actionsand proceedings preferred.
361.500. For the purpose of executing any of the powers andperforming any of the duties hereby conferred upon him, thedirector may, in the name of the delinquent corporation,prosecute and defend any and all actions and legal proceedings.Any such action or proceeding, upon application of the director,shall be entitled to the same preference to which an action orproceeding by or against a receiver appointed by the court isentitled in any court of the state. He may, in the name of thedelinquent corporation, execute, acknowledge and deliver any andall deeds, assignments, bills of sale, releases, extensions,satisfactions and other instruments necessary and proper toeffectuate any sale, lease or transfer of real or personalproperty or to carry into effect any power conferred or dutyimposed upon him by this chapter or by order of the circuitcourt. Any instrument executed pursuant to the authority herebygiven shall be as valid and effectual, for all purposes, asthough the same had been executed by the officers of thedelinquent corporation by authority of its board of directors.
(RSMo 1939 § 7927, A.L. 1978 H.B. 1634)Prior revisions: 1929 § 5332; 1919 § 11715
Effective 1-2-79
CROSS REFERENCE:
Conveyance of real estate by director to urban redevelopment corporation, RSMo 353.120