361.190. Claims entitled to priority, liquidation or insolvency.
158 words·~1 min read·
/mo/chapter-361/361-190A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
361.190. Claims entitled to priority, liquidation or insolvency. — In case of the insolvency or voluntary or involuntary liquidation of any corporation to which this chapter is applicable, the following claims shall have priority in the order herein specified:
(1)All unpaid charges lawfully assessed against it by the director and all unpaid penalties and forfeitures incurred by it under any section of this chapter, and all expenses of liquidation;
(2)The depositors and depository institutions having an approved claim against the general liquidating account of the bank;
(3)The general creditors having an approved claim against the liquidating account of the bank;
(4)The claims otherwise proper which were not filed within the time prescribed in this chapter;
(5)The stockholders of the bank.
--------
(RSMo 1939 § 7894, A.L. 1986 H.B. 1195, A.L. 1993 H.B. 231)
Prior revisions: 1929 § 5300; 1919 § 11688
CROSS REFERENCE:
Assessment by director of finance, bank liable for, when, 362.405