392.290. Right to issue stocks, bonds and notes is subject to regulation by state--exception--limitation on powers of commission. - Missouri Statutes

Right to issue stocks, bonds and notes is subject to regulation bystate--exception--limitation on powers of commission.

392.290. 1. The power of telecommunications companies toissue stocks, bonds, notes and other evidence of indebtedness andto create liens upon their property situated in this state is aspecial privilege, the right of supervision, regulation,restriction and control of which is and shall continue to bevested in the state, and such power shall be exercised asprovided by law and under such rules and regulations as thecommission may prescribe.

2. Notwithstanding any other provision of this chapter tothe contrary, no telecommunications company operating in Missouriand one or more other states shall be required to obtainauthorization from the commission to issue stocks, bonds, notesor any other evidence of indebtedness; nor shall any suchtelecommunications company be required to obtain authorizationfrom the commission in order to encumber the whole or any part ofits franchise line or system.

(RSMo 1939 § 5674, A.L. 1986 S.B. 625, A.L. 1987 H.B. 360)

Prior revisions: 1929 § 5218; 1919 § 10506