MO SB142

Repeals section 351.210, RSMo and enacts a new section relating to the distribution of paid-in surplus by corporations.

Removes the requirement that each paid-in surplus distribution be identified as a liquidating dividend with the amount per share disclosed to shareholders at the time of payment.

Retains restrictions prohibiting distributions when cumulative preferred dividends remain unpaid or when net assets would fall below stated capital.

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