At any time within ten days after the director has taken possession of the property and business of any such corporation, such corporation, with the approval of its board of directors, may apply to the circuit court in the judicial district in which the principal office of such corporation is located, for an order requiring the director to show cause why he should not be enjoined from continuing such possession. The court may, upon good cause shown, direct the director to refrain from further proceedings and to surrender such possession.
Mo. Rev. Stat. § 361.360
Director's possession may be challenged, when
Known as the Money Transmission Modernization Act
The act spans §§ 361–361 (125 sections).
Effective: 02 Jan 1979, see footnote; (RSMo 1939 § 7915, A.L. 1977 S.B. 420, A.L. 1978 H.B. 1634); Prior revisions: 1929 § 5321; 1919 § 11704
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.