275.120. Associations may purchase and retire own stock. - Missouri Statutes

Associations may purchase and retire own stock.

275.120. Such associations may also have power, and they arehereby authorized to purchase and retire shares of their ownstock, whether with or without par value, at a consideration notin excess of the amount for which such share, or shares, wereissued in the first instance, together with interest at the rateof six percent per annum upon such shares from date of issuancethereof, less, however, the amount of dividends, if any, paid tothe holder of such shares.

(RSMo 1939 § 14374)

Prior revision: 1929 § 12716