393.942. Voluntary dissolution before commencing operations. - Missouri Statutes

Voluntary dissolution before commencing operations.

393.942. 1. A nonprofit water company which has not commencedbusiness may dissolve voluntarily by delivering to the secretary of statearticles of dissolution, executed and acknowledged in duplicate on behalfof the company by a majority of the incorporators, which shall state:

(1) The name of the nonprofit water company;

(2) The address of its principal office;

(3) The date of its incorporation;

(4) That the company has not commenced business;

(5) That the amount, if any, actually paid in on account ofmembership fees, less any part of such fees disbursed for necessaryexpenses, has been returned to those entitled to such fees and that alleasements shall have been released to the grantors;

(6) That no debt of the company remains unpaid; and

(7) That a majority of the incorporators elect that the company bedissolved.

2. Such articles of dissolution shall be submitted to the secretaryof state for filing.

(L. 1999 H.B. 450 § 15 merged with S.B. 160 & 82 § 15)