377.220. Articles of agreement--approval--filing--issuance of certificate.
Articles of agreement--approval--filing--issuance of certificate.
377.220. 1. The persons mentioned in section 377.210 shall bedesignated as corporators, and such persons shall associate themselves byarticles of agreement, in writing, duly signed and acknowledged, settingforth:
(1) The corporate name of the proposed corporation, which shall not bethe name of any corporation heretofore incorporated or doing business in thisstate for similar purposes, or any such imitation of such name calculated tomislead the public;
(2) The name of the city, town or county in which the principal officeis located;
(3) The amount of the capital stock of the corporation, provided thesame be a stock company, which shall not be less than fifty thousand dollarsand a surplus of not less than fifty thousand dollars, the number of sharesinto which the capital stock is divided, and the par value thereof, that thesame has been bona fide subscribed, and actually paid up in lawful money ofthe United States, and is in the custody of the persons named as the firstboard of directors; the name and place of the several shareholders and thenumber of shares subscribed by each;
(4) The number of the board of directors or managers, which shall be notless than seven, their powers and duties and the names agreed upon for thefirst year;
(5) The number of years the corporation is to continue;
(6) A statement that the company is formed for the purpose of carryingon the business of insurance under the provisions of sections 377.200 to377.460;
(7) Any other provision of this section notwithstanding, a stipulatedpremium life insurance company licensed to do business in this state onOctober 13, 1963, may renew its license for business specified therein untilDecember 31, 1965, by maintaining in lieu of the capital and surplusrequirements an actual capital of at least twenty-five thousand dollars.
2. Said articles of agreement shall be submitted to the director of thedepartment of insurance, financial institutions and professional registrationand attorney general, and if they are found by these officers to comply withthe provisions of sections 377.200 to 377.460, they shall approve the same.
3. When approved, they shall be filed and recorded in the office of thesecretary of state, who shall issue a certificate of incorporation, upon thereceipt of which such persons shall be a body corporate and politic, under thestatutes of this state.
(RSMo 1939 § 5871, A.L. 1963 p. 485)Prior revisions: 1929 § 5760; 1919 § 6170; 1909 § 6964