Missouri Revised Statutes Title XXIII. Corporations, Associations and Partnerships § 351.1135. Contributions accepted, when, requirements

1. Subject to any restrictions in sections 351.1000 to 351.1228, the articles, or bylaws regarding patron and nonpatron membership interests, and only when authorized by the board, a cooperative may accept contributions which may be patron or nonpatron membership contributions under this section, make contribution agreements under section 351.1138, and make contribution rights agreements under section 351.1141.

2. Except as otherwise set forth in the bylaws, a person may make a contribution to a cooperative:

3. No purported contribution shall be treated or considered as a contribution, unless:

4. The determination of the board as to the amount or fair value or the fairness to the cooperative of the contribution accepted or to be accepted by the cooperative or the terms of payment or performance, including under a contribution agreement under section 351.1138, and a contribution rights agreement under section 351.1141, are presumed to be proper if they are made in good faith and on the basis of accounting methods, or a fair valuation or other method, reasonable in the circumstances.