reglab/housing_qa huggingface dataset:
MO Rev Stat § 370.400 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 370 - Credit Unions|Section 370.400 - Credit union may act as custodian, when.

Effective - 28 Aug 2004   370.400. Credit union may act as custodian, when. — In addition to any other credit union authority, a credit union may act as a custodian for any entity, public or private, and place funds in any other financial institutions, provided such funds are placed in deposits and insured by federal deposit insurance. ­­-------- (L. 2004 S.B. 1093)
MO Rev Stat § 371.010 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.010 - Purpose of chapter.

Effective - 28 Aug 1961   371.010. Purpose of chapter. — The purpose of this chapter is to assist and encourage the development and advancement of the business prosperity and economic welfare of the state, to assist and encourage the location of new industries in this state, and to provide for maximum opportunities for employment, and to these ends to establish a source of credit not otherwise available for the promotion, development and conduct of expanded business activities in the state. ­­-------- (L. 1961 p. 157 § 1)
MO Rev Stat § 371.020 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.020 - Number of incorporators required.

Effective - 28 Aug 1963   371.020. Number of incorporators required. — Any three or more qualified natural persons, all of whom shall be bona fide residents of this state, who desire to associate themselves for the purpose of establishing and operating a development finance corporation may subscribe, acknowledge and file with the director of finance for approval articles of incorporation as set out in section 371.080. ­­-------- (L. 1961 p. 157 § 2, A.L. 1963 p. 478)
MO Rev Stat § 371.030 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.030 - Director of finance to investigate and approve proposed articles.

Effective - 28 Aug 1961   371.030. Director of finance to investigate and approve proposed articles. — As soon as practicable after the receipt of the proposed articles of incorporation, the director of finance shall, from the best sources of information available, ascertain the character and general fitness of the applicants, their standing in their respective communities and shall issue his certificate approving the articles of incorporation and authorizing the applicants to proceed with the organization of the development finance corporation if he is satisfied  (1) That all the applicants are bona fide residents of the state;  (2) That they have the confidence of their respective communities; and  (3) That the proposed articles of incorporation conform to the provisions of section 371.080. ­­-------- (L. 1961 p. 157 § 3)
MO Rev Stat § 371.040 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.040 - Organization may be completed after approval.

Effective - 28 Aug 1961   371.040. Organization may be completed after approval. — Upon receipt of the certificate of preliminary approval the applicants may proceed to complete the organization of the development finance corporation, to obtain subscriptions for and payment of its capital stock, and do all other things necessarily incidental and preliminary to its transacting business. ­­-------- (L. 1961 p. 157 § 4)
MO Rev Stat § 371.050 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.050 - Certificate of organization to be filed — contents.

Effective - 28 Aug 1961   371.050. Certificate of organization to be filed — contents. — 1. When the applicants have completed the organization of the proposed development finance corporation, they shall file with the director of finance a certificate of organization executed by its president and attested by its secretary and with its seal affixed thereto, certifying  (1) The names and addresses of all of its subscribers of stock, the number of shares subscribed and the number of shares fully paid for by each;  (2) The total number of shares subscribed but not fully paid for;  (3) The total number of shares paid in full;  (4) The name and address of any depositary holding on deposit any funds of the development finance corporation;  (5) The names and addresses of the officers, directors and members of the executive committee, if any, of the development finance corporation.  2. The certificate of organization of the applicant shall be accompanied by  (1) The certificate of any named depositary certifying the amount of funds on deposit to the credit of the development finance corporation;  (2) Any bylaws or resolutions which have been adopted by the directors of the corporation. ­­-------- (L. 1961 p. 157 § 5)
MO Rev Stat § 371.060 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.060 - State banking and savings and loan board to direct issuance of certificate of incorporation, when.

Effective - 28 Aug 2011   371.060. State banking and savings and loan board to direct issuance of certificate of incorporation, when. — 1. Immediately upon the filing of the certificate of organization by the applicants, the director of finance shall submit to the state banking and savings and loan board the proposed articles of incorporation and the certificate of organization of the applicants and as soon as practicable thereafter the state banking and savings and loan board shall direct the director of finance to issue to the applicants a certificate of incorporation in such form as it may prescribe, if the board, from the best information available, determines that:  (1) Public convenience and necessity require the development finance corporation;  (2) The holders of the fully paid stock of the corporation are at least ten in number;  (3) That not less than two hundred fifty shares of no par value stock issued at one hundred dollars per share have been subscribed and fully paid for in cash;  (4) The bylaws and regulations submitted, if any, are in conformity with the articles of incorporation and the provisions of this chapter and not in conflict with any law of this state.  2. The director of finance shall return to the applicants one of the articles of incorporation submitted to him and shall endorse thereon the issuance by him of the certificate of incorporation. ­­-------- (L. 1961 p. 157 § 6, A.L. 1963 p. 478, A.L. 2011 H.B. 464)
MO Rev Stat § 371.070 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.070 - Corporate existence begins, when — recording of articles.

Effective - 28 Aug 1961   371.070. Corporate existence begins, when — recording of articles. — 1. Upon the issuance of the certificate of incorporation by the director of finance, the corporate existence of the development finance corporation begins. The certificate of incorporation is conclusive except as against the state, that all conditions precedent have been complied with and that the corporation has been incorporated under provisions of this chapter.  2. A copy of the articles of incorporation, endorsed by the director of finance, shall be filed for recordation in the office of the recorder of deeds in the county in which the principal office of the development finance corporation is located. ­­-------- (L. 1961 p. 157 § 7)
MO Rev Stat § 371.080 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.080 - Articles of incorporation — contents.

Effective - 28 Aug 1963   371.080. Articles of incorporation — contents. — 1. The articles of incorporation for a development finance corporation organized under the provisions of this chapter shall state:  (1) The name of the corporation, which name shall include the words "Missouri development finance corporation" but shall have in addition a numerical or other designation so as to distinguish it from any development finance corporation which may be organized subsequently and the name shall be such as to distinguish it from any other corporation organized and existing under the laws of the state of Missouri;  (2) The purpose for which the corporation is formed;  (3) The period of duration of the corporation which may be perpetual or limited;  (4) The address of its principal office and the name of its agent on whom process may be served;  (5) The total number of shares of stock which the corporation is authorized to issue, which number shall not be less than two hundred fifty shares of no par value, which shall be issued for one hundred dollars per share in cash;  (6) The number of directors, not less than fifteen, to be elected at the annual meeting, their terms of office and any provisions desirable for staggering the terms of office of directors, except that the terms of office of directors and other matters pertaining to the directors may be provided in the bylaws of the corporation;  (7) The names and addresses of the incorporators, not less than three, who will manage the affairs of the corporation until the first meeting of stockholders and members;  (8) Any provisions, not inconsistent with law, which the incorporators may choose to insert for the regulation of the business and the conduct of the affairs of the corporation.  2. It is not necessary to set out in the articles of incorporation any of the corporate powers enumerated in this chapter. ­­-------- (L. 1961 p. 157 § 8, A.L. 1963 p. 478)
MO Rev Stat § 371.090 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.090 - Amendment of articles, procedure — when effective.

Effective - 28 Aug 2011   371.090. Amendment of articles, procedure — when effective. — 1. The articles of incorporation may be amended by a majority vote of the stockholders at any regular meeting or at a special meeting called for that purpose.  2. Articles of amendment signed by the president or vice president and attested by the secretary certifying to the amendment and its lawful adoption shall be executed, acknowledged and filed with the director of finance and, when approved by the state banking and savings and loan board, recorded with a certificate of the director of finance approving the articles of amendment, in the same manner as the original articles of incorporation. As soon as the director of finance issues his certificate of amendment the amendment is in effect. ­­-------- (L. 1961 p. 157 § 13, A.L. 1963 p. 478, A.L. 2011 H.B. 464)
MO Rev Stat § 371.100 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.100 - Stockholders' meetings — election of directors — voting rights.

Effective - 28 Aug 1963   371.100. Stockholders' meetings — election of directors — voting rights. — 1. The first annual meeting shall be held on a date fixed by the first board of directors and shall be held as soon as practicable after twenty-five thousand dollars of the capital stock of the corporation has been paid into its treasury. The first and subsequent annual meetings of stockholders shall be called as provided in the bylaws of the corporation.  2. At the first annual meeting, and at each annual meeting thereafter, the directors shall be elected by vote of the stockholders. At all meetings, annual or special, of stockholders for whatever purpose held, stockholders shall have one vote for each share of stock owned. Stockholders shall have the right to vote cumulatively in all elections of directors. ­­-------- (L. 1961 p. 157 § 9, A.L. 1963 p. 478)
MO Rev Stat § 371.110 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.110 - Board of directors to manage corporation — number, terms.

Effective - 28 Aug 1963   371.110. Board of directors to manage corporation — number, terms. — 1. The management of the affairs of the corporation shall be administered by a board of directors. In the first instance, the directors, not less than nine, shall be elected by the incorporators to serve until the first annual meeting. Thereafter, the board of directors shall be composed of not less than fifteen persons who shall be residents of this state. Each congressional district shall have at least one director and not more than two directors shall be residents of any one congressional district.  2. If a vacancy occurs in the board of directors through death, resignation or otherwise, the remaining directors may elect a qualified person to fill the vacancy until the next annual meeting of stockholders.  3. The directors shall hold office until their successors are elected and qualified. ­­-------- (L. 1961 p. 157 § 9, A.L. 1963 p. 478)
MO Rev Stat § 371.140 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.140 - Development finance corporations subject to chapter 351 and have corporate powers and rights.

Effective - 28 Aug 1961   371.140. Development finance corporations subject to chapter 351 and have corporate powers and rights. — All development finance corporations shall possess all powers and privileges granted corporations by chapter 351 relating to general business corporations and are subject to all the provisions thereof except as herein otherwise provided. ­­-------- (L. 1961 p. 157 § 12)
MO Rev Stat § 371.150 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.150 - Accumulation of earned surplus, requirements.

Effective - 28 Aug 1963   371.150. Accumulation of earned surplus, requirements. — The corporation shall set apart as an earned surplus seventy-five percent of its net earnings each year until such earned surplus equals the total of the paid-in capital and paid-in surplus then outstanding. The earned surplus shall be held in cash or invested in obligations of the United States government, and shall be kept and used to meet losses and contingencies of the corporation, and, whenever the amount of the earned surplus shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation. Earned surplus not required to be accumulated shall be available for the payment of such dividends as the board of directors shall deem expedient. ­­-------- (L. 1961 p. 157 § 14, A.L. 1963 p. 478)
MO Rev Stat § 371.160 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.160 - Limit on obligations, exceptions.

Effective - 28 Aug 1973   371.160. Limit on obligations, exceptions. — At no time shall the total obligations of the corporation exceed ten times the amount of paid-in capital and surplus, not including therein the earned surplus. This limitation shall not apply with respect to that portion of the corporation's obligations incurred with respect to assets or investments to the extent that they are secured or covered by guaranties or by commitments or agreements to take over, or purchase, made by the United States of America, or by any department, bureau, agency, board, commission or establishment of the United States including any corporation, wholly owned, directly or indirectly, by the United States, pursuant to the authority of an act of Congress heretofore or hereafter adopted or amended or pursuant to the authority of any executive order of the President of the United States heretofore or hereafter made or amended under the authority of any act of Congress, heretofore or hereafter adopted or amended. ­­-------- (L. 1961 p. 157 § 15, A.L. 1973 S.B. 90)
MO Rev Stat § 371.170 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.170 - Deposits and loans of funds, regulation — not to receive deposits.

Effective - 28 Aug 1961   371.170. Deposits and loans of funds, regulation — not to receive deposits. — The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depositary by a vote of a majority of the directors, exclusive of any director who is an officer or director of the depositary so designated. The corporation shall not receive money on deposit. No loans shall be made directly or indirectly to any officer of the corporation or to any firm of which such officer is a member or officer. ­­-------- (L. 1961 p. 157 § 16)
MO Rev Stat § 371.180 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.180 - Limitation on lending powers.

Effective - 28 Aug 1961   371.180. Limitation on lending powers. — A development finance corporation organized under the provisions of this chapter shall not lend money when credit is readily available elsewhere. Before granting a loan, the directors of the corporation shall endeavor so far as is reasonably possible to ascertain that the first opportunity to grant the loan has been given to the banks, insurance companies and to other lending institutions of the state. ­­-------- (L. 1961 p. 157 § 21)
MO Rev Stat § 371.190 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.190 - Examination by director of finance — reports.

Effective - 28 Aug 1961   371.190. Examination by director of finance — reports. — The corporation shall be subject to the supervision and examination of the director of finance and the corporation shall pay the actual expenses of such examination as determined by the director. The corporation shall make such annual or other reports of its condition to the director as he may prescribe. ­­-------- (L. 1961 p. 157 § 17)
MO Rev Stat § 371.200 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.200 - Stockholders not to have preemptive rights.

Effective - 28 Aug 1961   371.200. Stockholders not to have preemptive rights. — The holders of capital stock as such shall have no preemptive or preferential right to purchase or subscribe for any part of the unissued capital stock of the corporation of any class or for any new issue of stock of any class, whether now or hereafter authorized or issued, or to purchase or subscribe for any bonds or other obligations, whether or not convertible into stock of any class of the corporation, now or hereafter authorized or issued. ­­-------- (L. 1961 p. 157 § 18)
MO Rev Stat § 371.210 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.210 - Interest paid exempt from intangible and income taxes.

Effective - 28 Aug 1961   371.210. Interest paid exempt from intangible and income taxes. — Interest on bonds, notes or other obligations of a development finance corporation issued under and in accordance with the provisions of this chapter is* exempt from all intangible taxes imposed by this state and all state income taxes. ­­-------- (L. 1961 p. 157 § 19)  *Word "are" appears in original rolls.
MO Rev Stat § 371.220 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.220 - Corporate income exempt from income tax.

Effective - 28 Aug 1961   371.220. Corporate income exempt from income tax. — All income received by a development finance corporation is exempt from the taxes imposed on incomes by this state; but this exemption does not apply to income received by stockholders of the development finance corporation in the form of dividends or otherwise. ­­-------- (L. 1961 p. 157 § 20)
MO Rev Stat § 371.230 (2021)
2021 Missouri Revised Statutes|Title XXIV - Business and Financial Institutions|Chapter 371 - Development Finance Corporations|Section 371.230 - Compromise, arrangement or plan of reorganization, how adopted — effect.

Effective - 28 Aug 1961   371.230. Compromise, arrangement or plan of reorganization, how adopted — effect. — 1. Whenever a compromise or arrangement or any plan of reorganization of the corporation is proposed between the corporation and its creditors, members or shareholders, the circuit court of Cole County by virtue of its general equity powers may, on application of the corporation or of any creditor, member or shareholder thereof, or on the application of any receiver or receivers appointed for the corporation, order a meeting of such creditors, members or shareholders as the case may be, as may be affected by the proposed compromise or arrangement or plan of reorganization, which shall be called in such manner as the court directs.  2. If, at this meeting, the compromise or arrangement or plan of reorganization is agreed to by or on behalf of the creditors, if affected thereby, holding two-thirds in amount of the claims against the corporation, and by or on behalf of the shareholders, if affected thereby, holding the majority of each class of capital stock, and by or on behalf of the members, if affected thereby, holding two-thirds in amount of the outstanding notes or other interest-bearing obligations of the corporation provided for in section 371.120, and if such agreement shall be further evidenced by the written acceptance of the creditors, shareholders and members duly filed in the court, the compromise or arrangement or plan of reorganization shall, if approved by the court as just and equitable, be binding on all the creditors, shareholders or members, as the case may be, who are affected thereby, and also on this corporation. All persons who become creditors, shareholders or members of the corporation are deemed to have become creditors, shareholders or members subject in all respects to this section, and the same shall be absolutely binding upon them. For the purposes of this section only, members are not deemed creditors and shall act under this section as a separate class. ­­-------- (L. 1961 p. 157 § 22)