Section 394.270 – Members not to be liable for debts of cooperative.
Effective – 28 Aug 1939 394.270. Members not to be liable for debts of cooperative. — The private property of the members of a cooperative shall be exempt from execution for the debts of the cooperative and no member shall be liable or responsible for any debts of the cooperative. ——– (RSMo 1939 § 5407)
Section 394.280 – Provisions of securities law not to apply.
Effective – 28 Aug 1939 394.280. Provisions of securities law not to apply. — The provisions of the securities law of Missouri shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation transacting business in this state pursuant to this chapter to the United States of […]
Section 394.290 – Acknowledgments, who may take.
Effective – 28 Aug 1939 394.290. Acknowledgments, who may take. — No person who is authorized to take acknowledgments under the laws of this state shall be disqualified from taking acknowledgments of instruments executed in favor of a cooperative or to which it is a party, by reason of being an officer, director or member […]
Section 394.200 – Cooperative of adjacent state may extend lines and transact business in this state, when — service of process on, how made.
Effective – 28 Aug 1939 394.200. Cooperative of adjacent state may extend lines and transact business in this state, when — service of process on, how made. — 1. Any corporation organized on a nonprofit or a cooperative basis for the purpose of supplying electric energy in rural areas and owning and operating electric transmission […]
Section 394.100 – Articles to be filed with secretary of state.
Effective – 28 Aug 1939 394.100. Articles to be filed with secretary of state. — 1. Articles of incorporation, amendment, consolidation, merger, conversion, or dissolution, as the case may be, when executed and acknowledged in duplicate and accompanied by such affidavits as may be required by applicable provisions of this chapter, shall be presented to […]
Section 394.110 – Bylaws to be adopted.
Effective – 28 Aug 1939 394.110. Bylaws to be adopted. — The original bylaws of a cooperative may be adopted by its board of directors or stockholders. Thereafter bylaws shall be adopted, amended or repealed by its members. The bylaws shall set forth the rights and duties of members and directors and may contain other […]
Section 394.120 – Qualifications for membership — meetings — rules — board of directors authority on certain matters, expires, when.
Effective – 28 Aug 2021, 2 histories 394.120. Qualifications for membership — meetings — rules — board of directors authority on certain matters, expires, when. — 1. No person shall become a member of a cooperative unless such person shall agree to use electric energy furnished by the cooperative when such electric energy shall be […]
Section 394.130 – Territory supplied by cooperative may be divided into voting districts.
Effective – 28 Aug 1939 394.130. Territory supplied by cooperative may be divided into voting districts. — Notwithstanding any other provision of this chapter, the bylaws may provide that the territory in which a cooperative supplies electric energy to its members may be divided into two or more voting districts for the purpose of properly […]
Section 394.140 – Directors to manage cooperative.
Effective – 28 Aug 1939 394.140. Directors to manage cooperative. — 1. The business and affairs of a cooperative shall be managed by a board of not less than five directors, each of whom shall be a member of the cooperative. The bylaws shall prescribe the number of directors, their qualifications, other than those provided […]
Section 394.150 – Officers — removal.
Effective – 28 Aug 1939 394.150. Officers — removal. — The officers of a cooperative shall consist of a president, vice president, secretary and treasurer, who shall be elected annually. No person shall continue to hold the offices of president or vice president after he shall have ceased to be a director. The offices of […]