SB 197 - The act revises Chapter 351, RSMo, relating to the organization and powers of corporations. It modifies voting requirements to provide that holders of a class of stock are required to vote on an amendment to the articles of incorporation only if the amendment would adversely affect those holders. A merger or consolidation would not be considered an amendment to the articles. A corporation which has a provisional director appointed by circuit court because the directors were deadlocked, may be judicially dissolved pursuant to Section 351.494, RSMo (which provides for dissolution for a variety of reasons, including deadlock).
DENISE GARNIER