361.430. On taking possession, director shall notify those holding assets — effect of notification.
114 words·~1 min read·
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361.430. On taking possession, director shall notify those holding assets — effect of notification. — 1. When the director shall have taken possession of the property and business of any such corporation, he shall forthwith give notice of such fact to any and all banks, trust companies, associations and individuals holding any assets of such corporation.
2. No corporation, association or individual having notice or knowledge that the director has taken possession of such corporation, shall have a lien or charge against any of the assets of such corporation for any payment, advance or clearance thereafter made, or liability thereafter incurred.
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(RSMo 1939 § 7920)
Prior revisions: 1929 § 5326; 1919 § 11709