Effective - 28 Aug 2007
393.900. Nonprofit water companies may be organized — articles of incorporation. — 1. Nonprofit, membership corporations may be organized pursuant to sections 393.900 to 393.951 only for the purpose of supplying water for distribution, wholesale and treatment services within the state of Missouri. Corporations which become subject to sections 393.900 to 393.951 are referred to in sections 393.900 to 393.951 as nonprofit water companies. Five or more persons may organize a nonprofit water company pursuant to sections 393.900 to 393.951.
2. The articles of incorporation of a nonprofit water company shall recite in the caption that they are executed pursuant to sections 393.900 to 393.951, shall be signed and acknowledged in duplicate by at least five of the incorporators and shall state:
(1) The name of the company;
(2) The address of its principal office;
(3) The names and addresses of the incorporators;
(4) The number of years the company is to continue, which may be any number including perpetuity;
(5) The legal description of the territory in which the company intends to operate;
(6) The names and addresses of the persons who shall constitute its first board of directors;
(7) Whether the company chooses to operate pursuant to chapter 347 or chapter 355;
(8) The method chosen for distributing the assets of the company upon dissolution; and
(9) Any provisions not inconsistent with sections 393.900 to 393.951 deemed necessary or advisable for the conduct of its business and affairs. Such articles of incorporation shall be submitted to the secretary of state for filing.
3. (1) Prior to obtaining a permit to provide service, a nonprofit water company shall provide a copy of the articles of incorporation and company bylaws to the department of natural resources to ensure compliance with all statutory requirements. The department shall review the documents and provide the nonprofit water company authorization to provide service if all statutory requirements are met. If all statutory requirements have not been met, the department shall inform the nonprofit water company of all deficiencies and assist such company in curing the deficiencies.
(2) All nonprofit water companies shall provide a copy of all subsequent modifications of the articles of incorporation and company bylaws to the department to ensure continued compliance. If statutory requirements are no longer being met, the department shall inform the nonprofit water company of all deficiencies and provide a period of thirty days to cure such deficiencies. If such deficiencies are not cured within thirty days, the department may suspend or revoke the nonprofit water company's authority to provide service until such time that the deficiencies are cured.
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(L. 1999 H.B. 450 § 1 merged with S.B. 160 & 82 § 1, A.L. 2007 S.B. 22)