HB 525 -- Corporations

Sponsor:  Byrd

This bill makes several changes relating to the rights of
shareholders, officers, and directors of a corporation.  In its
main provisions, the bill:

(1)  Provides that on a motion to dismiss, a person challenging
an exculpation provision must plead facts with particularity and
on a motion for summary judgment has the burden of proving the
provision is inapplicable;

(2)  Allows a corporation to confer the power to vote upon
holders of bonds, debentures, or other obligations;

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

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

Missouri House of Representatives
Last Updated July 25, 2003 at 10:12 am