Mo. Rev. Stat. » Chapter 351
Missouri Revised Statutes

Mo. Rev. Stat. § 351.160 (2026)

Shares or bonds shall be for money paid, labor or property actually received

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  351.160.  Shares or bonds shall be for money paid, labor or property actually received — bonded indebtedness, how incurred. — 1.  No corporation shall issue shares, or bonds or other obligations for the payment of money, except for money paid, labor done or property actually received; and all fictitious issues or increases of shares or indebtedness shall be void; provided, that no such issue or increase made for valid bona fide antecedent debts shall be deemed fictitious or void.

  2.  Bonded indebtedness of a corporation shall be incurred or increased only upon prior approval by the board of directors.  Unless the articles of incorporation otherwise provide, no vote or consent of shareholders shall be necessary to authorize or approve the incurrence of or an increase in bonded indebtedness.

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(L. 1943 p. 410 § 17, A.L. 1945 p. 696, A.L. 1961 p. 248)

Notes of Decisions
Cited in 12 cases, 1960–1999 · leading case: Yates v. Bridge Trading Co., 844 S.W.2d 56 (Mo. Ct. App. 1992).
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Yates v. Bridge Trading Co., 844 S.W.2d 56 (Mo. Ct. App. 1992). · cites it 16× “§ 351.160, RSMo 1986. Appellant urges, notwithstanding the choice of law stipulation contained in the disputed stock purchase agreement, that section 351.”
Manzer v. Sanchez, 985 S.W.2d 936 (Mo. Ct. App. 1999). · cites it 3× “MSA’s motion alternatively stated that the 3,000 shares of stock was void ab initio, inasmuch as the shares could never have been validly issued as collateral for a loan consistent with the language of Section 351.160, RSMo 1994, governing the issuance of stock certificates.”
Citizens Bank of Windsor v. Landers, 570 S.W.2d 756 (Mo. Ct. App. 1978). · cites it 2× “Landers as bearing upon his continued expectation that stock would be issued to him, and not become unavailable.”
Kaiser v. Moulton, 631 S.W.2d 44 (Mo. Ct. App. 1981). · cites it 2× “A similar provision is found in § 351.160(1) RSMo Supp. 1963 which was in effect at the time.”
Crow v. Newspaper Dealer Supply, Inc., 603 F. Supp. 847 (E.D. Mo. 1985). · cites it 2× “Mo.Rev.Stat. § 351.160; Mo. Const. Art. XI § 7 (statutory and constitutional prohibitions of watered stock requiring shares be paid for property or services and not a loan from the issuing corporation).”
In Re Sec. Prods. Co., 310 F. Supp. 110 (E.D. Mo. 1969). · cites it 4× “; and Sections 351.160 and 351.165, RSMo 1959, V.”
Johnson v. Duensing, 340 S.W.2d 758 (Mo. Ct. App. 1960). · cites it 2× “Such consideration for stock is specifically *767 authorized by Section 351.160, subd. 1. (Mr. Meyer testified: “They didn’t propose to me to buy any stock.”
Swiss-Am. Importing Co. v. Variety Food Prods. Co., 436 S.W.2d 770 (Mo. Ct. App. 1968). “1945; § 351.160, V.A.M.S.) The partners’ property interests were received by the new corporation “as the equivalent of money.”
Sparks Farm, Inc. v. Comm'r, 56 T.C.M. 464 (Tax Ct. 1988). · cites it 2× “Petitioners argue that Sparks Farm, Inc. was not a legal corporation for several reasons.”
State ex rel. Gundaker v. Davis, 932 S.W.2d 885 (Mo. Ct. App. 1996). · cites it 2× “Although Davis asserted in the trial court that Article XI, § 7 of the Missouri Constitution and § 351.160 RSMo 1994 preclude Gun-daker and Williams from being stockholders unless they paid for their stock, that contention is not advanced on appeal.”
State ex rel. Koman v. Town & Campus of Alabama, Inc., 438 S.W.2d 292 (Mo. Ct. App. 1969). · cites it 2× “The determinative issue raised by relator’s petition for the trial court’s alternative writ of mandamus, appellants’ return thereto and relator’s reply was whether relator’s certificate for 58 shares of the capital stock of appellant corporation was legally issued against a…”
Roth v. Wallar, 462 S.W.2d 741 (Mo. 1971). “- The cause involves, allegedly, Article 11, Section 7 of the Constitution as implemented by RSMo 1969, §§ 351.160 and 351.165 V.A.M.S.; from the Constitution “No corporation shall issue shares * * * except for money paid * * and from one of the statutes; “No note * * * shall be…”
Mo. Rev. Stat. § 351.160(1): 2 cases
Yates v. Bridge Trading Co., 844 S.W.2d 56 (Mo. Ct. App. 1992). “§ 351.160, RSMo 1986. Appellant urges, notwithstanding the choice of law stipulation contained in the disputed stock purchase agreement, that section 351.”
Kaiser v. Moulton, 631 S.W.2d 44 (Mo. Ct. App. 1981). “A similar provision is found in § 351.160(1) RSMo Supp. 1963 which was in effect at the time.”
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