Effective - 28 Aug 1985
357.010. Authorization of cooperative plan — purposes — other corporations may convert to cooperatives, procedure. — 1. Any number of persons, not less than twelve, may associate themselves together as a cooperative association, society or exchange, having all the incidents, powers and privileges of corporations, for the purpose of producing or furnishing goods, services, or housing, or for the purpose of conducting any agricultural or mercantile business on the cooperative plan, including the buying, selling, manufacturing, storage, transportation or other handling or dealing in or with, by associations of agriculturists, of agricultural, dairy or similar products, and including the manufacturing transformation of such articles into products derived therefrom, and for the purpose of the purchasing of or selling to all shareholders and others groceries, provisions and all other articles of merchandise.
2. For the purposes of this section the words "association", "company", "corporation", "society" or "exchange" shall be construed to mean the same.
3. A corporation, other than a cooperative incorporated under this chapter, may convert itself into a cooperative, if such corporation can qualify as a cooperative under the provisions of this chapter, by adopting an amendment to its articles of incorporation by which it elects to become subject to the provisions of this chapter. Such amendment shall include all information required by section 357.020 and may include any desirable changes permitted by this chapter. Such amendment shall be adopted, filed and recorded in the manner provided by law applicable to the corporation prior to such conversion, except that the fee for such amendment shall be that amount required of a newly formed cooperative as set forth in section 357.060.
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(RSMo 1939 § 14406, A.L. 1985 S.B. 300)
Prior revisions: 1929 § 12748; 1919 § 10247
Structure Missouri Revised Statutes
Title XXIII - Corporations, Associations and Partnerships
Chapter 357 - Cooperative Companies
Section 357.015 - Housing cooperative, defined, limitations.
Section 357.020 - Articles of incorporation — filing — certificate.
Section 357.030 - Amendments to articles — change in number of authorized shares — fees.
Section 357.040 - Issuance of common and preferred stock.
Section 357.050 - Limit of shares.
Section 357.060 - Fees for incorporation.
Section 357.070 - Fees of recorder of deeds.
Section 357.080 - Management by board — election — removal.
Section 357.090 - Election of directors.
Section 357.100 - Business policies — control — vote.
Section 357.110 - Proxies, how voted.
Section 357.120 - Stock, who may purchase.
Section 357.130 - Method of distribution of earnings of association — provisions of bylaws.
Section 357.140 - Auditing of books annually.
Section 357.150 - Use of funds.
Section 357.160 - Private property exempt.
Section 357.170 - Prior cooperative associations.