362.130. Extension of time for retirement of capital notes. - Missouri Statutes

Extension of time for retirement of capital notes.

362.130. In any case where such capital notes to be issuedas provided under the provisions of sections 362.120 to 362.135are made retirable in a period less than twenty years after theirauthorization, the bank or trust company issuing such capitalnotes may, by a provision inserted therein to the effect, reservethe right from time to time to extend the time for the retirementof said capital notes and, in such event, the bank or trustcompany so issuing said capital notes may, by vote of a majorityof its board of directors, with the consent of the financedirector, make such extension.

(RSMo 1939 § 7908)

Prior revision: 1929 § 5314