CCS HCS SB 394 -- BUSINESS CORPORATIONS AND PARTNERSHIPS

This bill makes several changes relating to business entities.
In its main provisions, the bill:

(1)  Gives a shareholder with voting shares who objects to a
merger or consolidation the right to an appraisal if the
objection is filed prior to the meeting of shareholders;

(2)  Allows a corporation to adopt a provision in its articles
renouncing any interest in specified business opportunities;

(3)  Establishes that the remedy available pursuant to Section
351.455, RSMo, will be the exclusive remedy (except in cases of
fraud or lack of authorization for the transaction);

(4)  Authorizes domestic general partnerships to merge or
consolidate with other business entities and establishes a
procedure for approving a merger or consolidation; and

(5)  Establishes a procedure for approving a domestic limited
partnership merger or consolidation.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:13 am