Mo. Rev. Stat. § 361.190

Claims entitled to priority, liquidation or insolvency

Known as the Money Transmission Modernization Act

The act spans §§ 361–361 (125 sections).

Effective: 28 Aug 1993; (RSMo 1939 § 7894, A.L. 1986 H.B. 1195, A.L. 1993 H.B. 231); Prior revisions: 1929 § 5300; 1919 § 11688

In case of the insolvency or voluntary or involuntary liquidation of any corporation to which this chapter is applicable, the following claims shall have priority in the order herein specified:

(1) All unpaid charges lawfully assessed against it by the director and all unpaid penalties and forfeitures incurred by it under any section of this chapter, and all expenses of liquidation;

(2) The depositors and depository institutions having an approved claim against the general liquidating account of the bank;

(3) The general creditors having an approved claim against the liquidating account of the bank;

(4) The claims otherwise proper which were not filed within the time prescribed in this chapter;

(5) The stockholders of the bank.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.