362.020. Articles of agreement — contents.

382 words·~2 min read·/mo/chapter-362/362-020

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

362.020. Articles of agreement — contents. — 1. The articles of agreement mentioned in this chapter shall set out:

(1)The corporate name of the proposed corporation. The corporate name shall not be a name, or an imitation of a name, used within the preceding fifty years as a corporate title of a bank or trust company incorporated in this state;

(2)The name of the city or town and county in this state in which the corporation is to be located;

(3)The amount of the capital stock of the corporation, the number of shares into which it is divided, and the par value thereof; that the same has been subscribed in good faith and all thereof actually paid up in lawful money of the United States and is in the custody of the persons named as the first board of directors or managers;

(4)The names and places of residences of the several shareholders and number of shares subscribed by each;

(5)The number and the names of the first directors;

(6)The purposes for which the corporation is formed;

(7)Any provisions relating to the preemptive rights of a shareholder as provided in section 351.305 .

The articles of agreement may provide for the issuance of additional shares of capital stock or other classes of stock pursuant to the same procedures and conditions as provided under section 351.180 , provided that such terms and procedures are acceptable to the director of finance and, provided that any notice or other approval required to be given or obtained from the state of Missouri shall be given or obtained from the director of the division of finance.

2. The articles of agreement may designate the number of directors necessary to constitute a quorum, and may provide for the number of years the corporation is to continue, or may provide that the existence of the corporation shall continue until the corporation shall be dissolved by consent of the stockholders or by proceedings instituted by the state under any statute now in force or hereafter enacted.

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(RSMo 1939 § 7940, A.L. 1949 p. 280, A.L. 1967 p. 445, A.L. 2002 S.B. 895, A.L. 2025 H.B. 754 merged with S.B. 98)

Prior revisions: 1929 § 5345; 1919 § 11728; 1909 § 1093