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Current as of January 01, 2023 | Updated by FindLaw Staff
1. Whenever the director shall have paid to each creditor of any stock corporation whose claim has been duly proved the full amount of such claim, and shall have made proper provision for claims in litigation and not finally determined, and shall have paid all the expenses of liquidation, he shall call a meeting of the stockholders of such corporation by causing notice of the time and place of such meeting to be published at least once a week for three successive weeks in one or more newspapers selected by him and published in the county or city where the principal office of such corporation is located.
2. At such meeting, the stockholders shall determine whether the director shall continue as liquidator to wind up the affairs of such corporation, or whether the stockholders themselves shall elect an agent or agents for that purpose.
3. In determining these matters, the stockholders shall vote by ballot in person or by proxy. Each share of stock shall be entitled to one vote and the vote of a majority of the issued stock shall be necessary to a determination.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 361.580. Director shall call stockholders' meeting after creditors are paid in full--proceedings at such meeting - last updated January 01, 2023 | https://codes.findlaw.com/mo/title-xxiv-business-and-financial-institutions/mo-rev-st-361-580/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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