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162-1982-3
- CHAPTER 3 (450.2301...450.2391)
Section 450.2301 ‑ Payment or distribution of assets, income, or profit; conferring benefits on shareholders or members; compensation; distribution of assets upon dissolution; providing for payment of dividends or distribution of income or profit in articles or bylaws; application or distribution of profits; use, conveyance, or distribution of assets held by corporation for charitable purposes.
Section 450.2303 ‑ Corporation organized upon stock basis; provisions of articles and bylaws; issuance of shares; rights, preferences, and limitations of or upon shareholders; classes of shares; voting rights; transferability and cancellation of shares; rules of qualification and government.
Section 450.2304 ‑ Corporation organized upon membership basis; provisions of articles or bylaws; rights, preferences, and limitations of or upon members; classes of members; voting rights; condominium association; homeowners or property owners association; transferability and termination of membership; rules of qualification and government; limitations on membership.
Section 450.2305 ‑ Corporation organized upon directorship basis; members; voting; matters subject to action by board of directors.
Section 450.2307 ‑ Subscription for shares or membership; enforceability; irrevocability; acceptance; consent to revocation; contract with corporation to purchase shares to be issued or treasury shares as subscription agreement.
Section 450.2308 ‑ Subscription for shares or membership; payment; installments; call for payment ratable; retention of shares as security for performance by subscriber.
Section 450.2309 ‑ Default in payment of amount due under subscription agreement; rights and duties of corporation; interpretation; limiting and adding to rights and remedies of corporation.
Section 450.2310 ‑ Rescission of subscription under which part of shares issued and in which security interest retained as cancellation of shares.
Section 450.2311 ‑ Fees or dues required as condition of shareholding or membership; fixing; enforcement.
Section 450.2312 ‑ Issuance by corporation organized on stock basis of shares for fixed consideration; disposition of treasury shares.
Section 450.2313 ‑ Corporation, unincorporated association, partnership, or other person as shareholder or member; officers and directors as director of corporation; rights, powers, privileges, and liabilities of shareholders or members.
Section 450.2315 ‑ Consideration for issuance of shares; rights and privileges of subscribers when payment received by corporation; value of consideration; fully paid shares nonassessable.
Section 450.2317 ‑ Obligation to pay unpaid portion of consideration for shares or membership as sole obligation; liability of person holding stock or membership in fiduciary or representative capacity; liability of assignee, transferee, or pledgee of shares, membership, or subscription for unpaid portion of consideration.
Section 450.2327 ‑ Charges and expenses of organization or reorganization; sale or underwriting expenses and compensation; payment or allowance.
Section 450.2331 ‑ Representation of shares by certificates; signatures of officers and seal.
Section 450.2334 ‑ Lost or destroyed certificate; issuance of new certificate; bond.
Section 450.2338 ‑ Issuing certificates for fractions of share; purposes; rights of holders; paying fair value of fractions of share in cash; issuing scrip in registered or bearer form exchangeable for full shares; conditions; providing opportunity to purchase additional fractions of share or scrip.
Section 450.2361 ‑ Shares redeemable upon occurrence of specified event or events in cash, bonds, or other property; classes; sinking fund for redemption.
Section 450.2363 ‑ Shares redeemable at option of shareholders in cash, bonds, or other property; classes; amendment to articles.
Section 450.2365 ‑ Purchase or redemption by corporation of own shares under certain conditions prohibited.
Section 450.2371 ‑ Cancellation of shares reacquired by corporation; retention of reacquired shares as treasury shares; status of cancelled shares.
Section 450.2391 ‑ Conferring voting and inspection rights upon bond holders; signatures of officers.
