Missouri has two kinds of “nonprofit” corporations. The older law, contained at Chapter 352, is the “benevolent corporation.” The newer law is the “Nonprofit Corporation Act” at Chapter 355.
Is the newer law better? Not always. In some ways, Chapter 352 is more ideal for a group. There are fewer statutory restrictions. A Benevolent Corporation does not have to file an annual report or maintain a registered office in Missouri. A church or membership association could easily find that Chapter 352 is preferable to Chapter 355.
The decision will depend on the structure and operation of your organization. If you are forming a Missouri nonprofit, we would be happy to talk with you about the trade-offs between Benevolent and Nonprofit corporations.