355.131. Duration, succession--general powers.

MISSOURI STATUTES AND CODES

355.131. Duration, succession--general powers.

Duration, succession--general powers.

355.131. Unless its articles of incorporation provide otherwise, everycorporation has perpetual duration and succession in its corporate name andhas the same powers as an individual to do all things necessary or convenientto carry out its affairs, including, without limitation, power:

(1) To sue and be sued, complain, and defend in its corporate name;

(2) To have a corporate seal, which may be altered at will, and to useit, or a facsimile of it, by impressing or affixing or in any other mannerreproducing it;

(3) To make and amend bylaws not inconsistent with its articles ofincorporation or with the laws of this state, for regulating and managing theaffairs of the corporation;

(4) To purchase, receive, lease, or otherwise acquire, and own, hold,improve, use, and otherwise deal with, real or personal property, or any legalor equitable interest in property, wherever located;

(5) To sell, convey, mortgage, pledge, lease, exchange, and otherwisedispose of all or any part of its property;

(6) To purchase, receive, subscribe for, or otherwise acquire, own,hold, vote, use, sell, mortgage, lend, pledge, or otherwise dispose of, anddeal in and with, shares or other interests in, or obligations of, any entity;

(7) To make contracts and guarantees, incur liabilities, borrow money,issue notes, bonds, and other obligations, and secure any of its obligationsby mortgage or pledge of any of its property, franchises, or income;

(8) To lend money, invest and reinvest its funds, and receive and holdreal and personal property as security for repayment, except as limited bysection 355.421;

(9) To be a promoter, partner, member, associate or manager of anypartnership, joint venture, trust or other entity;

(10) To conduct its activities, locate offices, and exercise the powersgranted by this chapter within or without this state;

(11) To elect or appoint directors, officers, employees, and agents ofthe corporation, define their duties, and fix their compensation;

(12) To pay pensions and establish pension plans, pension trusts, andother benefit and incentive plans for any or all of its current or formerdirectors, officers, employees, and agents;

(13) To make donations not inconsistent with law for the public welfareor for charitable, religious, scientific, or educational purposes and forother purposes that further the corporate interests;

(14) To impose dues, assessments, admission and transfer fees upon itsmembers;

(15) To establish conditions for admission of members, admit members andissue memberships;

(16) To carry on a business or businesses, either directly or throughone or more for-profit or nonprofit subsidiary corporations; and

(17) To do all things necessary or convenient, not inconsistent withlaw, to further the activities and affairs of the corporation.