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CORPORATION LAWS OF MISSOURI

CONSTITUTION OF 1875

ARTICLE X.

Sec. 21. Corporations-fees to be paid when incorporated.No corporation, company or association, other than those formed for benevolent, religious, scientific or educational purposes, shall be created or organized under the laws of this state, unless the persons named as corporators shall, at or before the filing of the articles of association or incorporation, pay into the state treasury fifty dollars for the first fifty thousand dollars or less of capital stock, and a further sum of five dollars for every additional ten thousand dollars of its capital stock. And no such corporation, company or association shall increase its capital stock without first paying into the treasury five dollars for every ten thousand dollars of increase: Provided, that nothing contained in this section shall be construed to prohibit the general assembly from levying a further tax on the franchises of such corporation.

(New section.)

ARTICLE XII.

Sec. 6. Shareholders, number of votes in election of directors.-In all elections for directors or managers of any incorporated company, each shareholder shall have the right to cast as many votes in the aggregate as shall equal the number of shares so held by him or her in said company, multiplied by the number of directors or managers to be elected at such election; and each shareholder may cast the whole number of votes, either in person or by proxy, for one candidate, or distribute such votes among two or more candidates; and such directors or managers shall not be elected in any other manner.

(New section.) (See Sec. 9732, R. S. 1919.)

Sec. 7. Corporation-business limited by charter-power to hold real estate.--No corporation shall engage in business other than that expressly authorized in its charter or the law under which it may have been or hereafter may be organized, nor shall it hold any real estate for any period longer than six years, except

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