Missouri Revised Statutes
Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses
Section 348.269 - No limitation on enumerated powers — prior authorization of general assembly for sale of assets — inapplicability of sunset act — severability clause.

Effective - 03 Feb 2012
348.269. No limitation on enumerated powers — prior authorization of general assembly for sale of assets — inapplicability of sunset act — severability clause. — 1. Nothing contained in sections 348.250 to 348.275 shall be construed as a restriction or limitation upon any powers that the corporation might otherwise have under chapter 355, and the provisions of sections 348.250 to 348.275 are cumulative to such powers.
2. Nothing in sections 348.250 to 348.275 shall be construed as allowing the board to sell the corporation or substantially all of the assets of the corporation, or to merge the corporation with another institution, without prior authorization by the general assembly.
3. Notwithstanding the provisions of section 23.253 to the contrary, the provisions of sections 348.250 to 348.275 shall not sunset.
4. The provisions of sections 348.250 to 348.275 shall not terminate before the satisfaction of all outstanding obligations, notes, and bonds provided for under sections 348.250 to 348.275.
5. If any provision of this act* or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of the act* that can be given effect without the invalid provision or application, and to this end the provisions of this act* are severable. Insofar as the provisions of sections 348.250 to 348.275 are inconsistent with the provisions of any other law, general, specific or local, the provisions of sections 348.250 to 348.275 shall be controlling.
­­--------
(L. 2011 1st Ex. Sess. S.B. 7)
Contingent effective date, see § 348.280
*"This act" (S.B. 7, 1st Ex. Sess., 2011) contained numerous sections. Consult Disposition of Sections table for a definitive listing.
(2013) Provisions of SB 7 from First Extraordinary Session in 2011 are unconstitutional; section B of act as codified in section 348.280 is a violation of the single subject requirement of Article III, Section 23 and remaining provisions of bill could not be severed. Missouri Roundtable for Life, Inc. v. State, 396 S.W.3d 348 (Mo.banc).

<< Previous
Next >>

Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XXIII - Corporations, Associations and Partnerships

Chapter 348 - Authorities and Corporations for Economic and Technological Development — Small Businesses

Section 348.005 - Law, how cited.

Section 348.010 - Purposes.

Section 348.015 - Definitions.

Section 348.020 - Authority created — powers to vest in commission — commissioners, number, appointment, qualifications.

Section 348.025 - Commission members, who may serve.

Section 348.030 - Commissioners' terms.

Section 348.035 - Bond required for commissioners, executive director and employees, cost.

Section 348.040 - Removal of commissioners from office, procedure.

Section 348.045 - Officers, terms.

Section 348.050 - Meetings, quorum — actions by resolution, requirements.

Section 348.055 - Expenses of commission, no compensation to be paid.

Section 348.060 - Employees, appointment, qualifications, compensation — executive director to be secretary.

Section 348.065 - Secretary's duties

Section 348.070 - Powers of authority.

Section 348.075 - Rules and regulations, promulgation, procedure.

Section 348.080 - Duties of authority.

Section 348.085 - Cooperation with federal and state agencies.

Section 348.090 - Additional powers of authority.

Section 348.095 - Termination of authority, rights and property to vest in state — exceptions.

Section 348.100 - Loans, authority may purchase or participate, requirements.

Section 348.110 - Bond issues and notes authorized.

Section 348.115 - Obligations not debt of the state or political subdivision — payable only from revenues or assets of authority.

Section 348.120 - Note issue and renewal — bond issues and refunding authorized.

Section 348.125 - Notes and bond issues to be authorized by resolution containing terms.

Section 348.130 - Pledges of authority to be liens on all authority assets.

Section 348.135 - Facsimile signatures, validity.

Section 348.140 - Redemption of notes and bonds — powers — price.

Section 348.145 - Issuance of refunding obligations — terms, how determined.

Section 348.150 - Sale or exchange of refunding obligation, proceeds, purposes and investments authorized.

Section 348.155 - Compliance with other state laws regulating bonds, notes, obligations, not required.

Section 348.160 - Alteration or impairment of terms, rights and remedies by state, prohibited — face of instruments to contain state pledge.

Section 348.165 - Official person executing bonds and notes, no personal liability.

Section 348.170 - Bonds and notes of authority deemed negotiable instruments, subject to registration.

Section 348.175 - Investment powers and limitations of authority.

Section 348.180 - Annual report — audit.

Section 348.181 - Records of Missouri agricultural and small business development authority to be closed, when.

Section 348.185 - Statement of purpose.

Section 348.190 - Loan guarantee program — rules, regulations, promulgation, procedure.

Section 348.195 - Certificate of guaranty may be issued, conditions — eligible lender, defined — participation fee, amount — limitation of amount.

Section 348.200 - Single-purpose animal facilities loan guarantee fund established — administration.

Section 348.205 - Money not needed may be invested.

Section 348.210 - Eligibility for guarantees for loans — rules — terms, conditions.

Section 348.215 - Policy of collection and recovery.

Section 348.220 - Animal waste facilities loan program guarantees — priorities, limitations.

Section 348.225 - Single-purpose animal facilities loan program fund created — purpose.

Section 348.230 - Linked deposit loans for dairy cows, first year of interest to be paid by authority — fee authorized.

Section 348.235 - Dairy business planning grants authorized — application procedure, fee — limit on grant — rulemaking authority.

Section 348.250 - Citation.

Section 348.251 - Missouri technology corporation, established — definitions — public hearing, notice.

Section 348.251 - Definitions — Missouri technology corporation may be established — corporation, defined — public hearing, notice.

Section 348.253 - Contracts with not-for-profit organizations, objectives.

Section 348.256 - Articles of incorporation, bylaws, methods of operation, content — members, qualifications — audits — evaluations — tax exemptions — conflicts of interest.

Section 348.256 - Articles of incorporation, bylaws, content — members, qualifications.

Section 348.257 - Executive committee established, members, duties — audit committee, duties — research alliance, report, contents — rules authority.

Section 348.261 - Powers — leveraging of nonstate resources — moneys, authority over — notice of financial assistance recipients to general assembly.

Section 348.261 - Powers.

Section 348.262 - Department may contract with corporations.

Section 348.262 - Department may contract with corporations.

Section 348.263 - Open meetings and sunshine law applicability — records, requirements.

Section 348.263 - Replaces corporation for business modernization and technology with Missouri technology corporation — transfer.

Section 348.264 - Science and innovation reinvestment fund established — source of funds — purpose.

Section 348.264 - Technology investment fund established — source of funds — purpose.

Section 348.265 - Base year gross wages calculation — transfer of funds, amount — expenditure of funds — strategic plan required.

Section 348.266 - Debts incurred not debt of the state — subject to not-for-profit corporation law.

Section 348.269 - No limitation on enumerated powers — prior authorization of general assembly for sale of assets — inapplicability of sunset act — severability clause.

Section 348.271 - Innovation centers to be established to develop new science and innovation-based business duties, reports — match requirements.

Section 348.271 - Innovation centers to be established to develop new technology-based business duties, reports.

Section 348.272 - Centers for advanced technology may be established in university-affiliated research institutes — requirements, funding limitations — duties of department of economic development.

Section 348.275 - Rulemaking authority, procedure.

Section 348.280 - Contingent effective date.

Section 348.300 - Definitions.

Section 348.300 - Definitions.

Section 348.302 - Tax credit, evidenced by certificate — may be used when — limitations on credit, credits transferable.

Section 348.304 - Certificates, how issued, limitations, exchanges.

Section 348.306 - Transfer of certificates, procedure, limitations.

Section 348.308 - Duties of director of economic development — issuance of certificates.

Section 348.310 - Acceptance of certificate in lieu of payment, reissuance of certificate for amount of unused balance.

Section 348.312 - Construction of provisions.

Section 348.316 - Report required from qualified funds, when, form, verified by affidavit, contents — duties of director of department of economic development — payment of taxes, due when.

Section 348.318 - Interest and penalty provisions, how determined — procedural matters, how determined.

Section 348.400 - Definitions.

Section 348.403 - Authority to develop program — rules — reject application, when.

Section 348.406 - Certificates of guaranty — fee — limitations.

Section 348.407 - Development and implementation of grants and loans — fee authority's powers — assistance to businesses — rules.

Section 348.408 - Agricultural product utilization grant fund established — limitation on grants.

Section 348.409 - Agricultural product utilization and business loan guarantee fund established.

Section 348.410 - Agricultural product utilization business development loan program fund established — duties of department of agriculture.

Section 348.412 - Use of loan proceeds — eligibility — rules.

Section 348.414 - Executive director's powers, compensation — funds and services not to be provided for projects outside state.

Section 348.415 - Collections.

Section 348.426 - Rules, effective, when — rules invalid and void, when.

Section 348.430 - Agricultural product utilization contributor tax credit — definitions — requirements — limitations — report.

Section 348.432 - New generation cooperative incentive tax credit — definitions — requirements — limitations — report.

Section 348.434 - Limitations on credits issued.

Section 348.436 - Expiration date.

Section 348.438 - Departments to provide assistance.

Section 348.439 - Oversight and report on credits.

Section 348.491 - Citation of law — definitions — program established, eligibility, requirements — rules — sunset provision.

Section 348.493 - Program lenders — tax credit, amount — certificate of tax credit, issuance of, when — tax credit requirements — sunset provision.

Section 348.500 - Family farms act — definitions — loan program for livestock, qualifications — rulemaking authority.

Section 348.505 - Tax credit for family farm livestock loan program, procedure.

Section 348.515 - Recognition of benefit of providing assistance to certain family farm operations.

Section 348.518 - Livestock feed and crop input loan guarantee program established — rulemaking authority.

Section 348.521 - Authority to issue certificates of guaranty — eligible lender defined — fee authorized — limit on outstanding guaranteed loans.

Section 348.524 - Livestock feed and crop input loan guarantee fund established — use of moneys.

Section 348.527 - Investment of fund moneys.

Section 348.530 - Eligibility for loans — rulemaking authority.

Section 348.533 - Policy for collection and recovery of loans — action authorized to recover amounts due.