Missouri Laws 275.020 – General corporate powers, when
That any three or more citizens and residents of this state engaged in growing, cultivating and producing the same agricultural commodity may, upon application as provided in this chapter, become a body corporate, and as such shall have and exercise the following powers:
(1) To have succession by its corporate name for the period limited in its articles of agreement, not exceeding, however, the term of fifty years, and if no limit be fixed in said articles of agreement, for the term of twenty years;
Terms Used In Missouri Laws 275.020
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes real and personal property. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(2) To sue and be sued, complain and defend in any court of law or equity;
(3) To make and use a common seal and alter the same at pleasure;
(4) To hold, purchase, mortgage or otherwise convey such real estate and personal estate as may be necessary and requisite for the purposes for which such association is organized and also to take and hold and convey such other property, real, personal or mixed, as shall be necessary or requisite for it to acquire in order to secure the payment of any indebtedness or liability which may be due such association;
(5) To appoint such subordinate officers, and make bylaws, for the management of its property and the regulation of its affairs;
(6) To increase or diminish, by vote of its stockholders, cast as its bylaws may direct, the number of its directors or trustees, which shall not be less than three nor more than thirty-six in number. Such changes in the number of directors or trustees shall take effect and be in force from the date on which the president or secretary of such association shall file with the secretary of state an affidavit setting forth the number of directors and trustees fixed, together with the date at which such change in number of directors or trustees was voted by the stockholders of such association.