352.210. 1. If upon a hearing of such application the courtshall be satisfied that the prayer of such petition can begranted without prejudice of the public welfare, or the interestof the members of the association, or the creditors of the same,it may enter a judgment or decree dissolving said association,and to provide by such judgment for the vesting of the propertyof such association, in a receiver or receivers, to be appointedby the court, and in his or their successors in office.
2. Such receiver or receivers, upon giving sufficientsecurity, to be approved by the court for the faithfulperformance of his or their duties, shall succeed to the title ofsuch association in and to all its property and estate, and shallhold the same in trust for the creditors thereof, and otherpersons who may be entitled thereto, and shall receive, collect,sue for, recover, hold, manage, dispose of the same under and inpursuance to the orders of such court, to be made from time totime in that behalf according to right and justice.
3. Any surplus remaining after paying the debts of suchassociation shall, except as herein provided, be distributedamong the persons who were members of such association at thetime of such dissolution, or their legal representativesrespectively, in equal shares, unless for good cause shown thecourt shall otherwise order; provided, that no property devotedto religious, literary or charitable uses shall be diverted fromthe objects for which they were granted by means of the powersherein given to any association to dissolve, but the same shallbe preserved by the decree of the court.
352.210. 1. If upon a hearing of such application the courtshall be satisfied that the prayer of such petition can begranted without prejudice of the public welfare, or the interestof the members of the association, or the creditors of the same,it may enter a judgment or decree dissolving said association,and to provide by such judgment for the vesting of the propertyof such association, in a receiver or receivers, to be appointedby the court, and in his or their successors in office.
2. Such receiver or receivers, upon giving sufficientsecurity, to be approved by the court for the faithfulperformance of his or their duties, shall succeed to the title ofsuch association in and to all its property and estate, and shallhold the same in trust for the creditors thereof, and otherpersons who may be entitled thereto, and shall receive, collect,sue for, recover, hold, manage, dispose of the same under and inpursuance to the orders of such court, to be made from time totime in that behalf according to right and justice.
3. Any surplus remaining after paying the debts of suchassociation shall, except as herein provided, be distributedamong the persons who were members of such association at thetime of such dissolution, or their legal representativesrespectively, in equal shares, unless for good cause shown thecourt shall otherwise order; provided, that no property devotedto religious, literary or charitable uses shall be diverted fromthe objects for which they were granted by means of the powersherein given to any association to dissolve, but the same shallbe preserved by the decree of the court.
352.210. 1. If upon a hearing of such application the courtshall be satisfied that the prayer of such petition can begranted without prejudice of the public welfare, or the interestof the members of the association, or the creditors of the same,it may enter a judgment or decree dissolving said association,and to provide by such judgment for the vesting of the propertyof such association, in a receiver or receivers, to be appointedby the court, and in his or their successors in office.
2. Such receiver or receivers, upon giving sufficientsecurity, to be approved by the court for the faithfulperformance of his or their duties, shall succeed to the title ofsuch association in and to all its property and estate, and shallhold the same in trust for the creditors thereof, and otherpersons who may be entitled thereto, and shall receive, collect,sue for, recover, hold, manage, dispose of the same under and inpursuance to the orders of such court, to be made from time totime in that behalf according to right and justice.
3. Any surplus remaining after paying the debts of suchassociation shall, except as herein provided, be distributedamong the persons who were members of such association at thetime of such dissolution, or their legal representativesrespectively, in equal shares, unless for good cause shown thecourt shall otherwise order; provided, that no property devotedto religious, literary or charitable uses shall be diverted fromthe objects for which they were granted by means of the powersherein given to any association to dissolve, but the same shallbe preserved by the decree of the court.
