Missouri Laws 407.754 – How to apply to successors in interest — successor in interest defined
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Terms Used In Missouri Laws 407.754
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trustee: A person or institution holding and administering property in trust.
The obligations of any wholesaler, manufacturer or distributor created by the provisions of sections 407.750 to 407.754 apply to any successor in interest or assignee of that wholesaler, manufacturer, or distributor. A “successor in interest” includes any purchaser of substantially all of the assets or over fifty percent of the stock, any surviving corporation resulting from a merger or liquidation, any receiver, or any trustee of the original wholesaler, manufacturer or distributor.