Missouri Laws 370.154 – Powers of receiver
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1. The director or other suitable person, while acting as temporary or permanent receiver of a credit union, may compromise and settle, under such general or specific authority as may be granted by order of the court, any and all debts owing by or claims against the credit union, and any indebtedness owing to or claims held by the credit union.
2. The courts may determine the value at which any accounts or shares of the credit union pledged to it as collateral with loans may be applied in reduction of the loans.
Terms Used In Missouri Laws 370.154
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Property: includes real and personal property. See Missouri Laws 1.020
3. The director, while in charge of a credit union, may receive and receipt for any property of or money owing to the credit union, and * release and satisfy any lien securing the payment of any money so owing.