392.020. Articles, where filed--powers when incorporated.

MISSOURI STATUTES AND CODES

392.020. Articles, where filed--powers when incorporated.

Articles, where filed--powers when incorporated.

392.020. 1. The original articles of association shall berecorded in the office of the recorder of deeds of the county inwhich the corporation is to be located, and then be filed in theoffice of the secretary of state, who shall carefully preservethe same in his office, and thereupon the subscribers and thepersons who, from time to time, shall become stockholders in suchcompany, and their successors, shall be a body politic andcorporate, by the name stated in such articles of association,and shall have power to construct, own, operate and maintainlines of telephone and magnetic telegraph between such points asthey may from time to time determine, and to make such reasonablecharges for the use of the same as they may establish; and shallhave power to lease or attach to their lines other telephone ortelegraph lines by lease or purchase; and meetings of thestockholders or of the directors of such corporation may be heldfor the transaction of business as well without as within thisstate.

2. A copy of the articles of association, certified by thesecretary of state or his deputy, under the seal of the state,shall be prima facie evidence of the incorporation of suchcompany, and of the facts stated therein. Any such company,through its board of directors, with the consent of the personsholding the larger amount in value of the stock, shall have powerto reduce its capital stock to any amount not below the actualcost of construction, and in like manner and with like consent toincrease the capital stock from time to time as in their judgmentmay be necessary, not exceeding an amount which, when fully paidup, shall be required for the business of the company, whichconsent shall be obtained in the manner prescribed by law.