Missouri § 238.307 - Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.
Full text of Missouri Revised Statutes of Missouri § 238.307 — Corporation, creation of, purpose — organization, nonprofit — tax-exempt status., with citation guidance and answers to common questions.
§ 238.307. Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.
1. A corporation may be created to fund, promote, plan, design, construct, maintain, and operate one or more projects or to assist in such activity.
2. The corporation shall be a nonmember, nonstock corporation. It shall be organized under and governed by sections 238.300 to 238.360 and by the provisions of the general not-for-profit corporation law, chapter 355. Any provision of sections 238.300 to 238.360 shall take precedence over any conflicting provision of chapter 355.
3. No part of the earnings or assets of a transportation corporation shall inure to the benefit of any private interests, person, or entity.
4. Property held by and activities of a corporation created under the provisions of sections 238.300 to 238.360 exist and are conducted for purely civic, social welfare, and charitable purposes. A transportation corporation shall be exempt from taxation in accordance with Article X, Section 6 of the Missouri Constitution. The corporation shall not be required to pay any taxes or assessments upon or with respect to a project or property acquired or used by the corporation or upon income therefrom.
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(L. 1990 S.B. 479 & 649 § 13)
Effective 5-30-90
---- end of effective 30 May 1990 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 238.307
What does Revised Statutes of Missouri § 238.307 cover?
Section 238.307 ("Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 238.307?
A common citation format is "Revised Statutes of Missouri § 238.307" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 238.307 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.