357.030. Amendments to articles--change in number of authorized shares--fees. - Missouri Statutes

Amendments to articles--change in number of authorized shares--fees.

357.030. Any such association may amend its articles ofincorporation by a majority vote of its shareholders at anyregular shareholders' meeting or at any special shareholders'meeting called for that purpose on sixty days' written notice bymail to all shareholders. Said power to amend shall include thepower to increase or diminish the amount of capital stock and thenumber of shares, but the amount of capital stock shall not be sodiminished below the amount of paid-up capital at the time theamendment is adopted. Within thirty days after the adoption ofan amendment to its articles of incorporation, such associationshall cause a copy of such amendment to be recorded in the officeof the recorder of deeds of the county or city wherein itsprincipal place of business is located, and a certified copythereof in the office of the secretary of state. The fee of thesecretary of state for filing an article of amendment shall beone dollar, and no increase in the authorized shares of thecorporation shall be valid or effectual unless the corporationhas paid the director of revenue five dollars for each tenthousand dollars or less of the increase in the authorized sharesof the corporation, and the corporation shall file a duplicatereceipt issued by the director of revenue for the paymentsrequired by this section to be made with the secretary of state.

(RSMo 1939 § 14411, A.L. 1978 S.B. 755)

Prior revisions: 1929 § 12753; 1919 § 10251