MO SB317

Repeals and reenacts sections 409.1-102 and 409.2-201 of Missouri law relating to securities regulations and definitions.

Adds a new exemption from security registration requirements for securities issued by agricultural cooperative corporations organized under Missouri law and operated as agricultural cooperative associations.

Requires agricultural cooperative corporations to notify the Commissioner of Securities in writing at least 30 days (or shorter period as specified) before offering securities for sale, including prospectus forms and financial statements.

Defines eligible agricultural cooperatives as those where farmers process, prepare, handle, or market farm products, or cooperatively purchase and distribute farm supplies and services, operated for mutual member benefit.

Requires eligible cooperatives to limit voting to one vote per member regardless of stock ownership, or limit dividends to eight percent annually and restrict nonmember business to amounts not exceeding member business volume.