Section 371.080

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 371

Effective - 28 Aug 1963   

  371.080.  Articles of incorporation — contents. — 1.  The articles of incorporation for a development finance corporation organized under the provisions of this chapter shall state:

  (1)  The name of the corporation, which name shall include the words "Missouri development finance corporation" but shall have in addition a numerical or other designation so as to distinguish it from any development finance corporation which may be organized subsequently and the name shall be such as to distinguish it from any other corporation organized and existing under the laws of the state of Missouri;

  (2)  The purpose for which the corporation is formed;

  (3)  The period of duration of the corporation which may be perpetual or limited;

  (4)  The address of its principal office and the name of its agent on whom process may be served;

  (5)  The total number of shares of stock which the corporation is authorized to issue, which number shall not be less than two hundred fifty shares of no par value, which shall be issued for one hundred dollars per share in cash;

  (6)  The number of directors, not less than fifteen, to be elected at the annual meeting, their terms of office and any provisions desirable for staggering the terms of office of directors, except that the terms of office of directors and other matters pertaining to the directors may be provided in the bylaws of the corporation;

  (7)  The names and addresses of the incorporators, not less than three, who will manage the affairs of the corporation until the first meeting of stockholders and members;

  (8)  Any provisions, not inconsistent with law, which the incorporators may choose to insert for the regulation of the business and the conduct of the affairs of the corporation.

  2.  It is not necessary to set out in the articles of incorporation any of the corporate powers enumerated in this chapter.

­­--------

(L. 1961 p. 157 § 8, A.L. 1963 p. 478)