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Mo. Rev. Stat. § 355.216

Purchase of membership, restrictions

Known as the Missouri Nonprofit Corporation Act

The act spans §§ 355–355 (165 sections).

Effective: 01 Jul 1995, see footnote; (L. 1994 H.B. 1095)

1. A public benefit corporation may not purchase any of its memberships or any right arising therefrom.

2. A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws. No payment shall be made in violation of section 355.661.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.