352.050. What associations not to incorporate under this chapter--company formed to erect building for use of society, may incorporate.
What associations not to incorporate under this chapter--companyformed to erect building for use of society, may incorporate.
352.050. No association, society or company formed formanufacturing, agricultural or business purposes of any kind, orfor pecuniary profit in any form, nor any corporation having acapital stock divided into shares, shall be incorporated underthis chapter; provided, that any company formed to erect abuilding for the exclusive use of a society within the purview ofthis chapter, without pecuniary consideration from such society,may become a body corporate under this chapter notwithstanding ithas a capital stock in shares, and may receive subscriptions tosuch stock, to be paid in real estate, in money, property orservices rendered to such company.
(RSMo 1939 § 5444)Prior revisions: 1929 § 5003; 1919 § 10271; 1909 § 3439