392.010. Telephone and telegraph corporations, by whom and how formed. - Missouri Statutes

Telephone and telegraph corporations, by whom and how formed.

392.010. Any number of persons, not less than five, beingsubscribers to the stock of any contemplated telephone ormagnetic telegraph company, may be formed into a corporation forthe purpose of constructing, owning, operating and maintaininglines of telephone or magnetic telegraph, upon complying with thefollowing requirements: Whenever stock to the amount of not lessthan twenty thousand dollars shall have been subscribed for thepurpose of forming a telegraph company, or five hundred dollarsfor the purpose of forming a telephone company, the subscribersto such stock shall elect such number of directors, not less thanthree nor more than twenty-one, as they may determine, and shallseverally subscribe articles of association, which shall setforth the name of the corporation, the amount of the capitalstock of the company, the number of directors, the amount of eachshare of stock, the number and names of the subscribers to thestock of the company, and the number of shares of stock taken byeach subscriber, the location of the principal office or place ofbusiness of the company, and the names of its authorized agentsthereat, which shall be verified by the affidavit of at leastthree of the subscribers thereto, and shall pay into the statetreasury fifty dollars for the first fifty thousand dollars orless of its capital stock, and the further sum of five dollarsfor every additional ten thousand dollars thereof.

(RSMo 1939 § 5321, A.L. 1975 S.B. 89)

Prior revisions: 1929 § 4916; 1919 § 10127; 1909 § 3321

CROSS REFERENCE:

Organization under general corporation law, RSMo 351.030