Missouri § 383.025 - Association to commence business, when — liability of members limited — business to be nonprofit, dividends may be paid, how.
Full text of Missouri Revised Statutes of Missouri § 383.025 — Association to commence business, when — liability of members limited — business to be nonprofit, dividends may be paid, how., with citation guidance and answers to common questions.
§ 383.025. Association to commence business, when — liability of members limited — business to be nonprofit, dividends may be paid, how.
The association may, on the seventh day thereafter, commence to do business. The association shall be a body corporate, and shall do business as a corporation. No member of the association shall be liable for any amounts because of his membership in the association other than his assessments as provided in the articles of association, the bylaws of the association or as ordered by the director of the department of commerce and insurance pursuant to section 383.035. The business of the association shall be conducted so as to preclude any distribution of income, profit or property of the association to the individual members thereof except in payment of claims or indemnities or upon the final dissolution of the association, but the association may pay dividends to its members as long as the association has a positive surplus both before and after any such dividend is declared.
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(L. 1975 S.B. 458 § 4, A.L. 1989 H.B. 774, A.L. 1992 S.B. 831)
---- end of effective 28 Aug 1992 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 383.025
What does Revised Statutes of Missouri § 383.025 cover?
Section 383.025 ("Association to commence business, when — liability of members limited — business to be nonprofit, dividends may be paid, how.") 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 § 383.025?
A common citation format is "Revised Statutes of Missouri § 383.025" (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 § 383.025 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.