388.040. Articles of association, when filed--incorporation fee. - Missouri Statutes

Articles of association, when filed--incorporation fee.

388.040. 1. Such articles of association shall not be filedand recorded in the office of the secretary of state, until atleast one thousand dollars of stock for every mile of standard orbroad gauge railroad, nor until at least five hundred dollars ofstock for every mile of narrow gauge railroad proposed to bemade, is subscribed thereto and five percent paid thereon, ingood faith and in cash to the directors named in said articles ofassociation; nor until there is endorsed thereon, or annexedthereto an affidavit, made by at least three of the directorsnamed in said articles, that the amount of stock required by thissection has been in good faith subscribed, and five percent paidin cash thereon, as aforesaid, and that it is intended, in goodfaith, to construct or maintain and operate the broad, standardor narrow gauge road mentioned in such articles of association;which affidavit shall be recorded with the articles ofassociation, as aforesaid.

2. Provided, that such articles of association shall not befiled and recorded until such corporation or association shallpay into the state treasury fifty dollars for the first fiftythousand dollars or less of the capital stock of the corporationor association, and a further sum of five dollars for everyadditional ten thousand dollars of its capital stock, as providedby law.

(RSMo 1939 § 5135)

Prior revisions: 1929 § 4662; 1919 § 9852; 1909 § 3051

CROSS REFERENCE:

Incorporation fees for business corporations generally, RSMo 351.065