Missouri Revised Statutes













Chapter 351

General and Business Corporations

←351.295

Section 351.300.1

351.305→

August 28, 2015

Fractional shares, how issued.

351.300. A corporation may issue fractions of a share and it may issue a

certificate for a fractional share, or, by action of its board of directors,

may in lieu thereof pay cash equal to the value of such fractional share, or

issue scrip or other evidence of ownership which shall entitle the holder to

receive a certificate for a full share upon the surrender of such scrip or

other evidence of ownership aggregating a full share. A certificate for a

fractional share shall (but scrip or other evidence of ownership shall not,

unless otherwise provided by resolution of the board of directors) entitle

the holder to all of the rights of a shareholder, including without

limitation the right to exercise any voting right, or to receive dividends

thereon or to participate in any of the assets of the corporation in the

event of liquidation. The board of directors may cause such scrip or evidence

of ownership (other than a certificate for a fractional share) to be issued

subject to the condition that it shall become void if not exchanged for share

certificates before a specified date, or subject to the condition that the

shares for which such scrip or evidence of ownership is exchangeable may be

sold by the corporation and the proceeds thereof distributed to the holders of

such scrip or evidence of ownership, or subject to any other conditions which

the board of directors may deem advisable.



(L. 1943 p. 410 § 23, A.L. 1975 S.B. 14, A.L. 2000 S.B. 896)







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