Effective - 30 May 1990
238.352. Transfer of project to commission, when — dissolution of corporation, required when — procedures. — 1. When a project is completed and all outstanding bonds, notes, obligations, liabilities or other debts of the corporation have been paid and retired or the corporation has provided for payment or retirement as determined by the commission, title to the project shall be transferred to the commission pursuant to contract. The commission shall then be responsible for all future maintenance costs of the project pursuant to contract. At such time, the corporation shall be dissolved unless the board amends the articles of incorporation as provided by sections 238.300 to 238.360 to allow the corporation to commence work on another project.
2. If a corporation is dissolved or liquidated and after all of its outstanding debts have been paid in full, all other income or assets of the corporation shall be liquidated and deposited in the state road fund and shall become the property of the commission.
3. If a corporation must be dissolved or liquidated before all of its outstanding debts and obligations have been paid in full, such liquidation shall be through a receivership action instituted in the appropriate circuit court of this state or as otherwise provided by law.
4. If the corporation or the commission does not elect to complete a project, any real property obtained for the project from the state of Missouri or any agency or political subdivision shall be returned. The state, its agency or political subdivision shall repay or return to the corporation all moneys or property it received from the corporation as consideration for the original transaction.
5. Bonds, notes, obligations, liabilities or other debts of the corporation shall exclusively be the responsibility of the corporation payable solely out of corporation funds and property provided herein and shall not constitute debt or liability of the state of Missouri or any agency or political subdivision of the state.
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(L. 1990 S.B. 479 & 649 § 31)
Effective 5-30-90
Structure Missouri Revised Statutes
Title XIV - Roads and Waterways
Chapter 238 - Transportation Districts and Transportation Corporations, Special Projects
Section 238.010 - Compact between Missouri and Kansas — powers and duties of authority.
Section 238.020 - Compact, when binding, where filed.
Section 238.030 - Authority may apply for approval of Congress.
Section 238.040 - Tax status of property and securities of authority.
Section 238.050 - Securities of authority recognized as lawful investments.
Section 238.060 - Commissioners, appointment, terms.
Section 238.070 - Qualifications of commissioners.
Section 238.080 - Compensation and expenses of commissioners.
Section 238.090 - Powers and duties of commissioners.
Section 238.100 - Additional powers and duties of commissioners.
Section 238.200 - Citation of law.
Section 238.202 - Definitions.
Section 238.205 - Purpose of district — district to be political subdivision.
Section 238.210 - Hearing, how conducted — opposition to district, how filed — appeals, how.
Section 238.212 - Notice to public, how.
Section 238.215 - Election, when — ballot, form of — results.
Section 238.217 - Costs of petition process, how paid.
Section 238.220 - Directors, election of, how, qualifications — advisors, appointed when, duties.
Section 238.227 - Funding mechanisms authorized — deposits with commission or authority, purpose.
Section 238.232 - Property tax, vote required — election, ballot form — collection of tax.
Section 238.233 - Collection of revenues.
Section 238.237 - Toll roads, allowed when — election, ballot form.
Section 238.240 - Indebtedness, authorized — bonds, authority to issue — limitations.
Section 238.245 - Property, district may purchase and control access.
Section 238.250 - Contractual powers.
Section 238.252 - Powers — generally.
Section 238.255 - Insurance, district may obtain — purposes — self-insurance not allowed, exception.
Section 238.257 - Projects, number of, changes — procedures, election required, ballot form.
Section 238.260 - Commission and authority may provide assistance, how.
Section 238.262 - Rules, commission may adopt.
Section 238.265 - Conveyance of property to district, how.
Section 238.267 - Projects, regulation of — treatment as part of state or local system, when.
Section 238.270 - Local transportation authority not to control project improvements, exception.
Section 238.272 - Audit authorized, when — costs, payment of.
Section 238.280 - Posting of increase in sales tax, when.
Section 238.300 - Citation of law.
Section 238.302 - Definitions.
Section 238.305 - Purpose of law.
Section 238.307 - Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.
Section 238.312 - Articles of incorporation, contents, amendment — filing.
Section 238.317 - Bylaws, adoption and approval.
Section 238.320 - Project plans, commission approval of.
Section 238.322 - Funding mechanisms, allowable — deposits with commission, purpose.
Section 238.327 - Indebtedness authorized — bonds, may be issued.
Section 238.332 - Property, corporation may purchase and control access.
Section 238.337 - Contractual powers.
Section 238.340 - Powers — generally.
Section 238.342 - Indemnification of directors, employees.
Section 238.345 - Commission may provide assistance, how.
Section 238.347 - Rules, commission may adopt.
Section 238.350 - Projects, regulation of — treatment as part of highway system, when.
Section 238.355 - Dissolution by commission, procedures, limitations.
Section 238.357 - Dissolution by board, procedures.
Section 238.402 - County first class transit authority — powers, generally.
Section 238.406 - Instruments issued by transit authority to be recognized as securities.
Section 238.408 - Property held by transit authority — status for purposes of taxation.
Section 238.412 - Certain public officials prohibited from award of government funds.