Missouri Laws 620.653 – Corporation to approve one qualified fund — transfer of powers — ..
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Terms Used In Missouri Laws 620.653
- 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.
The provisions of sections 620.635 to 620.650 to the contrary notwithstanding, one qualified fund shall be approved by the corporation as soon as practicable after July 8, 1999. Such fund need not be initially incorporated into the seed capital and commercialization strategy until after the appointment of the board. After the appointment of the board, all powers exercised by the corporation in relation to that fund shall be transferred to the board. After the dissolution of the board, all powers exercised by the board shall be transferred to the corporation. The corporation shall approve the professional fund manager employed by the qualified fund established by this section.