State Codes and Statutes
Statutes > Missouri > T23 > C349 > 349_095Dissolution of corporation, effect of.
349.095. Upon termination or dissolution, all rights andproperties of the corporation shall pass to and be vested in thecounty or municipality of incorporation, subject to the rights ofbondholders, noteholders, and other creditors. Except that nocounty or municipality nor the citizens thereof shall be subjectto any tax assessment or financial liability to any bondholder,noteholder and any other creditor nor shall any county ormunicipality be permitted to expend any public moneys for thepayment of any indebtedness of bonds, notes, or any other claimsby creditors of any nature. Any and all indebtedness, whether bybond, note or any creditor claim, shall be paid exclusively fromthe revenues, if any, from such terminated or dissolvedcorporation.
(L. 1977 S.B. 267 § 18)
