352.240. May be proceeded against by quo warranto, when.
May be proceeded against by quo warranto, when.
352.240. 1. The circuit court of the city or county inwhich any corporation organized under this chapter shall belocated shall, upon proceedings by information in the nature of aquo warranto, instituted against such corporation or the officersthereof, by the attorney general or circuit attorney, at therelation of any person desiring to prosecute the same, inquireinto any alleged unlawful acts of or misuser or nonuser of itsfranchise by such corporation, in like manner as is or may beprovided by law for proceedings in case of the alleged usurpationof or intrusion into any public office by any person.
2. If, in any such proceedings, judgment of forfeiture ordissolution be rendered against such corporation, it shall belawful for the court to provide by such judgment for the vestingof the property of such corporation, upon such dissolution orforfeiture, in a receiver or receivers, to be appointed by thecourt, and in his or their successors in office. Such receiveror receivers, upon giving sufficient security, to be approved bythe court, for the faithful performance of his or their duties,shall succeed to the title of such corporation in and to all itsproperty and estate, and shall hold the same in trust for thecreditors thereof, and other persons who may be entitled thereto,and shall receive, collect, sue for, recover, hold, manage anddispose of the same under and pursuant to the orders of suchcourt, to be made from time to time in that behalf, according toright and justice.
3. Any surplus remaining after paying the debts of suchcorporation shall, except as herein provided, be distributedamong the persons who were members of such corporation at thetime of such dissolution or forfeiture, or their legalrepresentatives respectively, in equal shares, unless for goodcause shown the court shall otherwise order; provided, that ifupon the dissolution or forfeiture of the franchises of anycorporation formed under this chapter it shall appear that anyproperty vested in said corporation was held by it upon trust forany charitable purpose, or subject to the provisions of section352.040, such property or surplus shall not be distributed asabove provided, but shall, by decree of such court, to be madewithout delay, after the debts of such corporation, if any, shallhave been fully paid out of said property, be vested in one ormore trustees for the charitable purpose for which suchcorporation held the same, or, in the case of corporations whichhave complied with the provisions of section 352.040, shall bedisposed of in the manner in said section provided for upon thedissolution of any such corporation.
4. And it shall be the duty of the attorney general, orcircuit or prosecuting attorney of the proper circuit or county,whenever any credible person shall, in writing, make complaint tohim upon affidavit of information and belief, that anycorporation formed under this chapter has, in any materialmatter, willfully misused, or, for two years last past, hasneglected to use its franchises, or has otherwise become liableto forfeit its charter, to inquire diligently into the grounds ofsuch complaint, and upon reasonable cause shown therefor, toinstitute proceedings by information in the nature of a quowarranto, looking to a dissolution of such corporation and aforfeiture of its corporate rights.
(RSMo 1939 § 5449)Prior revisions: 1929 § 5008; 1919 § 10276; 1919 § 3444