Missouri Constitution Article XI Sec. 2 – Organization of corporations by general law — special laws relating to corporations — invalidation of unexercised charters and franchises
Corporations shall be organized only under general laws. No corporation shall be created, nor shall any existing charter be extended or amended by special law; nor shall any law remit the forfeiture of any charter granted by special act. All existing charters, or grants of special or exclusive privileges, under which a bona fide organization was not completed, and business was not being done in good faith at the adoption of this constitution, shall thereafter have no validity.
Terms Used In Missouri Constitution Article XI Sec. 2 - Organization of corporations by general law -- special laws relating to corporations -- invalidation of unexercised charters and franchises
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.