MO HB498

Repeals section 351.210 of Missouri Revised Statutes and enacts a replacement section regarding distribution of paid-in surplus to shareholders

Removes the requirement that paid-in surplus distributions must be identified as liquidating dividends with per-share amounts disclosed to shareholders concurrently with payment

Retains restrictions prohibiting distributions when cumulative dividends on preferred shares are unpaid or when net assets would fall below stated capital

Permits corporations to apply paid-in surplus to reduce or eliminate deficits from operating losses or asset diminution by board resolution