Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS Chapter 355 Effective - 01 Jul 1995, see footnote 355.141. Power to act — challenge. — 1. Except as provided in subsection 2 of this section, the validity of corporate action may not be challenged on the ground that the corporation lacks or lacked power to act. 2. A corporation's power to act may be challenged in a proceeding against the corporation to enjoin an act where a third party has not acquired rights. The proceeding may be brought by the attorney general, a director, or by a member or members in a derivative proceeding. 3. A corporation's power to act may be challenged in a proceeding against an incumbent or former director, officer, employee or agent of the corporation. The proceeding may be brought by a director, or by the corporation directly, derivatively, or through a receiver, a trustee or other legal representative, or in the case of a public benefit corporation, by the attorney general. -------- (L. 1994 H.B. 1095) Effective 7-01-95
Missouri Legal Code