351.050. Incorporators, duties--ownership and acquisition of shares, how construed. - Missouri Statutes

Incorporators, duties--ownership and acquisition of shares, howconstrued.

351.050. One or more natural persons of the age of eighteen years, ormore, may act as an incorporator of such corporation by signing anddelivering in the office of the secretary of state the articles ofincorporation of such corporation. Nothing contained in this chapter shallbe construed as an indication of any legislative intention that theexistence of a corporation, hereafter or heretofore formed, is in anyrespect impaired by the direct or indirect ownership of all of the sharesof such corporation by one owner or by two owners or that by such ownershipthe corporation becomes dormant, inactive or incapable of acting as acorporation or ceases to possess any of the capacities, powers or authoritywhich it otherwise would possess. The direct or indirect acquisition,heretofore or hereafter, of all of the shares of a corporation by one owneror by two owners and the having of only one shareholder or two shareholdersat any time are declared to violate no policy or provision of the laws ofthis state.

(RSMo 1939 § 5338, A.L. 1943 p. 410 § 49, A.L. 1961 p. 248, A.L. 1965 p. 532, A.L. 1975 S.B. 14, A.L. 2004 H.B. 1664)

Prior revisions: 1929 § 4933; 1919 § 10144; 1909 § 3339