|SB 0835||Regulates Stock, Shareholders & Close Corporations|
|LR Number:||L3162.03T||Fiscal Note:||3162-03|
|Last Action:||07/10/96 - Signed by Governor|
|Effective Date:||August 28, 1996|
HCS/SB 835 - This act proposes numerous modifications to Chapter 351, RSMo, General and Business Corporations.
References to "preferred" stock have been deleted and replaced with "any class or series of stock". The words "or postponement" were added to all references regarding the adjournment of director or shareholder meetings.
A new subsection has been added to Section 351.245, RSMo, which delineates some of the ways in which a shareholder can authorize a person to act as a proxy.
Lastly, Section 351.750, RSMo, has been modified to
specifically state that the close corporation statutes are
controlling in the absence of a valid agreement to the contrary.