Missouri Laws 361.180 – False report of corporation solvency
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1. If the director, any deputy or examiner knowingly and wrongfully reports any corporation as solvent when it is insolvent or insolvent when it is solvent, any person injured thereby shall have a right of action on the official bond of such director, deputy or examiner for his injuries and damages sustained.
2. Such action shall be brought in the name of the state at the relation of the injured party.
Terms Used In Missouri Laws 361.180
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. 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