Missouri Laws 351.1186 – Court authority in dissolution proceedings — receiver may be appointed — ..
1. In dissolution proceedings before a hearing can be completed, the court may:
(1) Issue injunctions;
Terms Used In Missouri Laws 351.1186
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes real and personal property. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- United States: includes such district and territories. See Missouri Laws 1.020
(2) Appoint receivers with all powers and duties that the court directs;
(3) Take actions required to preserve the cooperative’s assets wherever located; and
(4) Carry on the business of the cooperative.
2. After a hearing is completed, upon notice to parties to the proceedings and to other parties in interest designated by the court, the court may appoint a receiver to collect the cooperative’s assets including amounts owing to the cooperative by subscribers on account of an unpaid portion of the consideration for the issuance of shares. A receiver has authority, subject to the order of the court, to continue the business of the cooperative and to sell, lease, transfer, or otherwise dispose of the property and assets of the cooperative either at public or private sale.
3. The assets of the cooperative or the proceeds resulting from a sale, lease, transfer, or other disposition shall be applied in the following order of priority:
(1) The costs and expense of the proceedings, including attorney fees and disbursements;
(2) Debts, taxes, and assessments due the United States, this state, and other states in that order;
(3) Claims duly proved and allowed to employees under the provisions of the workers’ compensation act except that claims under this clause may not be allowed if the cooperative carried workers’ compensation insurance, as provided by law, at the time the injury was sustained;
(4) Claims, including the value of all compensation paid in a medium other than money, proved and allowed to employees for services performed within three months preceding the appointment of the receiver, if any; and
(5) Other claims proved and allowed.
4. After payment of the expenses of receivership and claims of creditors are proved, the remaining assets, if any, may be distributed to the members or distributed under an approved liquidation plan.