Missouri Laws 276.170 – Organizations may make and enforce bylaws and rules
Terms Used In Missouri Laws 276.170
- 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.
- hereafter: means the time after the statute containing it takes effect. See Missouri Laws 1.020
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Any such organization may make and enforce reasonable bylaws and rules for the conduct of its members, but such organization shall not make any order, rule, regulation or bylaw limiting the right of any member of the organization to distribute in whatever manner and at whatever times the member may desire to the persons composing any partnership in which the member is financially interested or to the shareholders of any corporation or cooperative association in which such member is a shareholder, the* profits of such member to the persons composing such partnership or to the shareholders of such corporation or cooperative association, in proportion to the quantity of poultry and eggs or other farm products shipped to such member by the persons composing such partnership or the shareholders of such corporation or cooperative association, and any such order, rule, regulation or bylaw now or hereafter made, promulgated or adopted shall be invalid and void.