387.240. Right to issue stocks, bonds and notes is subject to regulation by state. - Missouri Statutes

Right to issue stocks, bonds and notes is subject toregulation by state.

387.240. The power of motor carriers to issue stocks, and bonds,notes and other evidences of indebtedness and to create liens upon theirproperty situated in this state is a special privilege, the right ofsupervision, regulation, restriction, and control of which is and shallcontinue to be vested in the state, and such power shall be exercised asprovided by law and under such rules and regulations as the division ofmotor carrier and railroad safety may prescribe.

(RSMo 1939 § 5631, A.L. 1996 S.B. 780)

Prior revisions: 1929 § 5175; 1919 § 10463