The failure of a statutory close corporation to observe the usual corporate formalities or requirements relating to the exercise of its corporate powers or management of its business and affairs is not a ground for imposing personal liability on the shareholders for liabilities of the corporation.
Mo. Rev. Stat. § 351.825
Limited liability
Known as the Missouri Cooperative Associations Act
The act spans §§ 351–351 (291 sections).
Effective: 28 Aug 1990; (L. 1990 H.B. 1432)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.