Missouri § 357.180 - Dissolution proceedings, how taken.
Full text of Missouri Revised Statutes of Missouri § 357.180 — Dissolution proceedings, how taken., with citation guidance and answers to common questions.
§ 357.180. Dissolution proceedings, how taken.
1. Whenever eighty percent of the stockholders of a corporation engaged in agricultural or mercantile business vote for a dissolution of said corporation for the purpose of reincorporating under the cooperative plan as provided for in sections 276.160 to 276.230, the stockholders shall by motion direct the secretary of said corporation to transmit a certified copy of the dissolution proceeds to the secretary of state and said certified copy shall be taken as prima facie evidence of a voluntary dissolution of the corporation; provided, however, that said dissolution shall not become effective until all the provisions as herein stated shall have been complied with.
2. Upon receipt of the order asking for dissolution the secretary of state shall issue a permit granting said corporation the privilege of dissolution from and after the time that all acts of incorporation under the cooperative plan have been complied with; provided, however, that only eighty percent of the shareholders of said corporation shall be required to sign the articles of association or agreement.
3. The board shall have power to purchase at its book value, all stock in excess of ten percent of the capital stock held by any shareholder. The president and secretary of the corporation seeking dissolution shall execute and acknowledge in the name and in behalf of such former corporation, a conveyance of all property, real and personal, and assets of every description of the said former corporation conveying the same to the new cooperative association so incorporated, and such conveyance shall have the effect to vest in such new cooperative association all the right, title and interest in such property, real and personal, and assets of any description, which were at any time possessed by said former corporation. The new cooperative association shall be liable for all debts and claims against said former corporation.
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(RSMo 1939 § 14420)
Prior revision: 1929 § 12762
---- end of effective 28 Aug 1939 ----
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Frequently Asked Questions About Missouri § 357.180
What does Revised Statutes of Missouri § 357.180 cover?
Section 357.180 ("Dissolution proceedings, how taken.") 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 § 357.180?
A common citation format is "Revised Statutes of Missouri § 357.180" (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 § 357.180 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.