MO HB847

Amends sections 409.1-102 and 409.2-201 of Missouri Revised Statutes to add an exemption for securities issued by agricultural cooperative corporations from registration requirements.

Defines "agricultural cooperative corporation" as cooperatives where farmers collectively engage in processing, preparing for market, handling, or marketing farm products, or jointly purchase and furnish farm supplies and farm business services.

Requires the commissioner of securities to receive written notification at least 30 days before the security is sold or offered for sale, along with proposed prospectus or sales literature and financial statements.

Exemption is available only if the cooperative meets one of two requirements: (A) no member receives more than one vote regardless of stock ownership, or (B) dividends are capped at 8% annually and nonmember business does not exceed member business volume.

Provides that individuals representing the issuer in exempt transactions under this section must file information with the commissioner regarding their relationship to the issuer, solicitation methods, and compensation arrangements.