Missouri § 238.307 Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.

Missouri Statutes

§ 238.307 — Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.

Missouri § 238.307

Title XIVROADS AND WATERWAYS

Ch. 238Transportation Districts and Transportation Corporations, Special Projects

This text of Missouri § 238.307 (Corporation, creation of, purpose — organization, nonprofit — tax-exempt status.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 238.307 (2026).

Text

1.A corporation may be created to fund, promote, plan, design, construct, maintain, and operate one or more projects or to assist in such activity.

2.The corporation shall be a nonmember, nonstock corporation. It shall be organized under and governed by sections 238.300 to 238.360 and by the provisions of the general not-for-profit corporation law, chapter 355 . Any provision of sections 238.300 to 238.360 shall take precedence over any conflicting provision of chapter 355 .

3.No part of the earnings or assets of a transportation corporation shall inure to the benefit of any private interests, person, or entity.

4.Property held by and activities of a corporation created under the provisions of sections 238.300 to 238.360 exist and are conducted for purely civic, social welfare

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1. A corporation may be created to fund, promote, plan, design, construct, maintain, and operate one or more projects or to assist in such activity.

2. The corporation shall be a nonmember, nonstock corporation. It shall be organized under and governed by sections 238.300 to 238.360 and by the provisions of the general not-for-profit corporation law, chapter 355 . Any provision of sections 238.300 to 238.360 shall take precedence over any conflicting provision of chapter 355 .

3. No part of the earnings or assets of a transportation corporation shall inure to the benefit of any private interests, person, or entity.

4. Property held by and activities of a corporation created under the provisions of sections 238.300 to 238.360 exist and are conducted for purely civic, social welfare, and charitable purposes. A transportation corporation shall be exempt from taxation in accordance with Article X, Section 6 of the Missouri Constitution. The corporation shall not be required to pay any taxes or assessments upon or with respect to a project or property acquired or used by the corporation or upon income therefrom.