☰ Revisor of Missouri


Chapter 537

< > Effective - 28 Aug 1999 bottom

  537.635.  Entity to be treated as corporation — not to produce profit — may pay dividends, when. — 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 or her membership in the association other than his or her assessments as provided in the articles of association and the bylaws of the association.  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.


(L. 1978 H.B. 1650 § 6, A.L. 1999 S.B. 28)

---- end of effective  28 Aug 1999 ----

use this link to bookmark section  537.635

Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Missouri Senate
State of Missouri
Missouri House

@04:00:54.7 39 :(Δ