Missouri legislation · 2026 Regular Session
Missouri HB3396: Establishes the Missouri corporate power reset act that prohibits political spending power by artificial persons
Status: In committee, May 15, 2026
What the bill says
An act constituting political spending power is ultra vires and void as provided in section 351.1408 and results in forfeiture of charter privileges as provided in section 351.1410. 351.386. 1. Every corporation incorporated under this chapter may engage in any lawful business unless a more limited purpose is set forth in the articles of incorporation; however, the corporation shall not be restricted to this limited purpose, unless it has stated it is so restricted in its articles of incorporation. 2. A corporation engaging in a business that is subject to regulation under another statute of t.
From the introduced text:
An act constituting political spending power is ultra vires and void as provided in section 351.1408 and results in forfeiture of charter privileges as provided in section 351.1410. 351.386. 1. Every corporation incorporated under this chapter may engage in any lawful business unless a more limited purpose is set forth in the articles of incorporation; however, the corporation shall not be restricted to this limited purpose, unless it has stated it is so restricted in its articles of incorporation. 2. A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under this chapter only if permitted by, and subject to all limitations of, the other statute. 3. For purposes of this section, "lawful business" does not include political spending power as defined under section 351.1401. 351.395. 1. No act of a corporation and no conveyance or transfer of real or personal property to or by a corporation shall be invalid by reason of the fact that the corporation was without capacity or power to do such act or to make or receive such conveyance or transfer, but such lack of capacity or power may be asserted: (1) In a proceeding by a shareholder against the corporation to enjoin the doing of any act or acts or the transfer of real or …
Sponsors
- (D, 019) · primary sponsor