Chapter 9 Debtor-Creditor Relations, Contracts, Property, Domestic Relations

• Library: Time Limitations 2010

I. Debtor-Creditor Relations (Sections 426.020 - 430.360)

II. Contracts and Contractual Relations (Sections 431.030 - 436.500)

III. Ownership and Conveyance of Property (Sections 441.020 - 448.4-116)

IV. Domestic Relations (Sections 451.040 - 455.545)

+--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Statuteor Rule | Action, Event,or Proceeding | TimeLimit | ComputedFrom |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | I. Debtor-Creditor Relations (Sections 426.020 - 430.360) |
                +------------------------------------------------------------------------------------------------------------------------+
                | Assignment for Benefit of Creditors |
                +------------------------------------------------------------------------------------------------------------------------+
                | 426.020 | Filing by assignee of inventor-| Within 15 days after | Execution of deed of assignmen- |
                | | y of property, effects, and th-| | t |
                | | ings assigned | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Filed with circuit court of county in which assignor or one of them resides. |
                | Court may allow longer leave for good cause shown. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 426.050 | Filing of appraisement and oat-| Within 5 days after | Appraisers complete appraiseme- |
                | | h of office | | nt |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: File with circuit clerk. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 426.070 | Assignor giving bond | Within 3 days after | Filing of deed and statement |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 426.140 | Exhibition of statement of the | Within 60 days after Every 90 | Execution of assignment |
                | | accounts of the trust with pr-| days | |
                | | oper vouchers by assignee Ther-| | |
                | | eafter to file like statement | | |
                | | until assigned estate is fully | | |
                | | settled | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: By assignee. Exhibited on oath to the circuit court. If fails, upon applicat- |
                | ion of any interested person, court must order a citation to issue requiring assignee to appear in c- |
                | ourt and exhibit statement; if assignee fails to respond to citation, court is to, on motion, dismis- |
                | s such assignee from the trust. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 426.180 | Notice to creditors of adjustm-| At least 4 weeks before | First day of adjusting and all- |
                | | ent of demands against estate | | owing demands |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: By assignee. Newspaper and by mail to any creditor whose address is known. S- |
                | tatutory, as distinguished from common law, assignment. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 426.320 | Payment to creditors by assign-| Within 1 month after | Time for allowance of demands |
                | | ee | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 426.350 | Publishing notice that assigne-| At least 6 weeks before | Applying for discharge |
                | | e will apply for discharge | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 426.360 | Filing of written objections t-| Within one week after | Filing of petition to discharg- |
                | | o discharge of assignee | | e |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: If objections not filed, application referred to commissioner. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 426.400 .2 | Assignee's report of his proce-| Within 3 days of | First term of court after proc- |
                | | edings after court order to co-| | eedings |
                | | mpromise debts | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Creditors may file objections within 3 days after filing report if term cont- |
                | inues that long; if not, within time court allows. |
                +------------------------------------------------------------------------------------------------------------------------+
                | Creditor Protection - Collateral Protection Act |
                +------------------------------------------------------------------------------------------------------------------------+
                | 427.125 .1 | Creditor to mail debtor notice | Within 30 days after | Placement of collateral protec- |
                | | of placement of insurance | | tion coverage |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 427.190 | Action to enforce obligation f-| Within 5 years after | Coverage is purchased |
                | | or collateral protection insur-| | |
                | | ance | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 427.220 .1 | Commissions paid to be disclos-| At least quarterly | Each year |
                | | ed to board | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Fraudulent Transfers |
                +------------------------------------------------------------------------------------------------------------------------+
                | 428.049 (1) | Commencement of action for fra-| Within 4 years after | Transfer made or obligation in- |
                | | udulent transfer with intent | | curred (if later, within 1 yea- |
                | | | | r it was or reasonably could h- |
                | | | | ave been discovered) |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: For fraudulent transfer where no reasonably equivalent value received in exc- |
                | hange, time limitation is within 4 years after transfer made or obligation incurred. Section 428.049- |
                | (2). For fraudulent transfer where made to an insider for antecedent debt, debtor was insolvent, and |
                | insider had reasonable cause to believe debtor was insolvent, time limitation is within 1 year afte- |
                | r transfer made or obligation made. Section 428.049(3). |
                +------------------------------------------------------------------------------------------------------------------------+
                | Mechanics' and Materialmen's Liens |
                +------------------------------------------------------------------------------------------------------------------------+
                | 429.010 | Notice of machinery or equipme-| Within 5 business days after | Commencement of use of rental |
                | | nt rental lien | | property |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 429.016 .3 | Claimant to record notice of r-| At least 5 days before | Intended date of closing |
                | | ights on residential real esta-| | |
                | | te in recorder's office | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: If last day for recording falls on Saturday, Sunday, or legal holiday, claimant has |
                | until next day recorder's office is open. Section 429.016.5. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 429.016 .11(1) | Property owner to record notic-| At least 45 days before | Earliest date owner intends to |
                | | e of intended sale | | close sale |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 429.016 .11(3) | Property owner to provide clai-| Within 5 days after | Owner receives written request |
                | | mant with notice of intended s-| | from claimant |
                | | ale and legal description of p-| | |
                | | roperty | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Claimant to provide same information to any entity with which claimant has c- |
                | ontracted for work, labor, or materials for subject property within 10 days after receiving written |
                | request from that entity. |
                +------------------------------------------------------------------------------------------------------------------------+
                | 429.016 .30 | Claimant's execution of final | Within 5 days after | Receipt of written request to |
                | | lien waiver (when claimant has | | execute waiver |
                | | been paid) | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | 429.080 | Filing claim by original contr-| Within 6 months after | Indebtedness accrued |
                | | actor, journeyman, day laborer-| | |
                | | , and every other person | | |
                +--------------------+--------------------------------+--------------------------------+---------------------------------+
                | Comment: Rental equipment or machinery liens must be filed within sixty days after th- |
                | e last of the rental equipment or machinery was last removed from the property. Filed with circuit c- |
                | lerk. Statutory requirement to file a mechanic's lien within the prescribed period cannot be waived. |

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