275.190. May issue and sell notes--security--certain exemption. - Missouri Statutes

May issue and sell notes--security--certain exemption.

275.190. Commodity associations as defined in this chaptershall have power to issue notes, payable in such amounts at suchrate of interest, and payable at such times as its board ofdirectors may authorize, and to secure the payment of said notesby depositing warehouse certificates, issued against thecommodity which such association is organized to handle, then instorage in warehouses, and may sell such notes to the generalpublic and in the sale thereof be exempt from the provisions ofchapter 409, RSMo, relating to domestic and foreign investmentcompanies.

(RSMo 1939 § 14380, A.L. 1971 S.B. 171)

Prior revision: 1929 § 12722