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Current as of January 01, 2025 | Updated by Findlaw Staff
1. Notwithstanding any provision of law to the contrary, a court shall not divide securities among multiple recipients in such a way that negotiable securities become nonnegotiable securities.
2. A court may divide securities into increments equal to a multiple of an allowable tradeable amount. For purposes of this section, an “allowable tradeable amount” is the minimum amount or denomination accepted by the industry, as defined in the official statement or offering document of the original security. If the provisions of this section prevent the distribution of property in the proportion that other law requires, a court may:
(1) Distribute different values of securities to different recipients and distribute other property in a way so that the total value of property each recipient receives is as close to the proper proportion as practicable;
(2) Liquidate the securities and distribute the resulting moneys among recipients; or
(3) Take other action within its power, including a combination of subdivisions (1) and (2) of this subsection.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXXII. Courts § 476.419. Securities, multiple recipients, requirements and limitations on court to divide - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxxii-courts/mo-rev-st-476-419/
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 before relying on it for your legal needs.
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