387.340. Reorganizations.

MISSOURI STATUTES AND CODES

Reorganizations.

387.340. Reorganizations of motor carriers shall be subject to thesupervision and control of the division of motor carrier and railroadsafety and no such reorganization shall be had without the authorizationof the division. Upon all such reorganizations the amount ofcapitalization, including therein all stocks and bonds and otherevidence of indebtedness, shall be such as is authorized by the divisionwhich, in making its determination, shall not exceed the fair value of theproperty involved, taking into consideration its original cost ofconstruction, duplication costs, present condition, earning power atreasonable rates and all other relevant matters and any additional sumor sums as shall be actually paid in cash; provided, however, that thedivision may make due allowance for discount of bonds. Any reorganizationagreement before it becomes effective shall be amended so that the amountof capitalization shall conform to the amount authorized by the division.The division may by its order impose such condition or conditions as itmay deem reasonable and necessary.