Section 362.020

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

Effective - 28 Aug 2002   

  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.

  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)

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