357.100. Business policies--control--vote. - Missouri Statutes

Business policies--control--vote.

357.100. Notwithstanding the foregoing provision for themanagement of the general affairs of each such association by itsboard of directors, the control of the policies of suchassociation is hereby reserved to and conferred upon theirrespective shareholders, who shall by direct vote govern thepolicies of such associations, including their policies withreference to the declaring of dividends, the setting aside ofreserve funds, the method of distributing profits, the amendmentof articles of association, the increasing and diminishing ofcapital stock, and other general policies; each shareholder shallbe entitled to but one vote, irrespective of the number of sharesowned, which vote may be cast by proxy as herein provided.

(RSMo 1939 § 14415)

Prior revisions: 1929 § 12757; 1919 § 10255