HB 678 -- CORPORATIONS (Byrd)

COMMITTEE OF ORIGIN:  Judiciary

This bill allows a corporation, through its articles of
incorporation or bylaws, to specify that classes or series of its
stock will be uncertificated shares.  Corporations must, upon
request, furnish to holders of uncertified shares information
regarding the voting powers, designations, and preferences, as
well as relative, participating, optional, or other special
rights of each class of stock.  If the remedy provided for in the
section outlining the rights of dissenting shareholders is
available with respect to a transaction, that remedy is the
exclusive remedy for the shareholder unless there is fraud or
lack of authorization for the transaction.

FISCAL NOTE:  No impact on state funds in FY 2006, FY 2007, and
FY 2008.

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:20 pm