362.060. Change of par value — notice of meeting — when change effective.

185 words·~1 min read·/mo/chapter-362/362-060

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362.060. Change of par value — notice of meeting — when change effective. — 1. The par value of the shares of the corporation may be changed by the stockholders at either a special or annual meeting of the stockholders.

2. Notice of the proposed change shall be given as provided in section 362.044 .

3. If the holders of a majority of the stock of the corporation at any meeting shall vote in favor of a resolution authorizing a change in the par value of its shares the resolution shall thereupon be adopted, and, upon the filing with the director of the resolution, certified by the secretary of the corporation to be a true and correct copy thereof adopted by the holders of a majority of the stock of the corporation at a meeting duly called and held in accordance with the provisions hereof, the change in par value of the shares shall thereupon become effective.

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(RSMo 1939 § 7945, A.L. 1967 p. 445, A.L. 2000 S.B. 896, A.L. 2019 S.B. 179)

Prior revisions: 1929 § 5349; 1919 § 11732; 1909 § 1097