Missouri § 351.175 - Subscriptions for shares — payment — failure to pay — notice for payment or forfeiture.
Full text of Missouri Revised Statutes of Missouri § 351.175 — Subscriptions for shares — payment — failure to pay — notice for payment or forfeiture., with citation guidance and answers to common questions.
§ 351.175. Subscriptions for shares — payment — failure to pay — notice for payment or forfeiture.
1. The board of directors shall have the power to accept or reject subscriptions for shares whether made before or after the organization of the corporation.
2. Unless otherwise provided in the subscription agreement, subscriptions for shares whether made before or after the organization of a corporation shall be paid in full at such time or in such installments and at such times as shall be determined by the board of directors. Any call made by the board of directors for payment on subscriptions shall be uniform as to all shares of the same class or as to all shares of the same series as the case may be. In case of default in payment of any installment or call when such payment is due, the corporation may proceed to collect the amount due in the same manner as any debt due the corporation. The bylaws may provide penalties for failure to pay installments or calls that may become due, but no penalty working a forfeiture of his right to receive the shares or of the amounts paid thereon shall be declared by the board of directors against any shareholder until they shall have caused a notice in writing to be served on the shareholder personally, or by depositing the same in the United States mail addressed to the shareholder at his address as it appears on the records of the corporation with postage thereon prepaid, stating that he is required to make such payment at the time and place specified in said notice, and setting forth the nature and extent of the forfeiture which may result if he fails to make such payment, which notice must be served as aforesaid at least sixty days previous to the day on which such payment is required to be made to avoid such forfeiture.
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(L. 1943 p. 410 § 14, A.L. 1975 S.B. 14, A.L. 1979 S.B. 216)
---- end of effective 28 Aug 1979 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 351.175
What does Revised Statutes of Missouri § 351.175 cover?
Section 351.175 ("Subscriptions for shares — payment — failure to pay — notice for payment or forfeiture.") 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 § 351.175?
A common citation format is "Revised Statutes of Missouri § 351.175" (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 § 351.175 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.