HCS HB 431 -- BUSINESS ORGANIZATIONS (Pratt)

COMMITTEE OF ORIGIN:  Judiciary

This substitute authorizes an additional method for the
dissolution of a limited liability company (LLC) in the event
there are no members and the LLC is not already dissolved and not
required to be wound up.  The substitute also changes the
definition of "issuing public corporation" in the general
provisions for business corporations in Section 351.015, RSMo,
and defines "domestic corporation" as a corporation incorporated
under Missouri laws in the merger and consolidation provisions in
Section 351.459.

Donation receptacles operating for profit are required to display
on the receptacle that the donations are not for charitable
organizations and will be resold for profit.  A violation of this
provision will be considered an unfair business practice under
Section 407.202.  If any of the proceeds from resale are donated
to a not-for-profit organization, the donation receptacle must
display the percentage of proceeds donated and the name of the
not-for-profit organization.

FISCAL NOTE:  No impact on state funds in FY 2008, FY 2009, and
FY 2010.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am