388.230. Capital stock may be reduced, when and how. - Missouri Statutes

Capital stock may be reduced, when and how.

388.230. Any railroad company incorporated by the laws ofthis state may at any time reduce the amount of its capital orcommon stock by a vote of three-fifths in interest of all thestock of such company to be affected thereby, at a stockholders'meeting, called in conformity to the bylaws of such company; andif so voted for, said capital stock may be reduced upon the planin detail thus submitted to the stockholders; provided, that suchreduction shall be so made as to affect the interest of allstockholders alike; provided, that nothing in this section shallbe so construed as to permit the reduction of the capital stockof any company below the minimum amount prescribed by law.

(RSMo 1939 § 5148)

Prior revisions: 1929 § 4675; 1919 § 9865; 1909 § 3064