392.320. Certificate of commission to be recorded--stock dividends, permitted when. - Missouri Statutes

Certificate of commission to be recorded--stock dividends, permittedwhen.

392.320. 1. No telecommunications company governed by theprovisions of this chapter shall issue any stocks, bonds, notesor other evidence of indebtedness, for money, property orservices, either directly or indirectly, nor shall it receive anymoney, property or services in payment of the same, eitherdirectly or indirectly, until there shall have been recorded uponthe books of such corporation or person the certificate of thecommission herein provided for.

2. No telecommunications company governed by the provisionsof this chapter shall declare any stock, bond or scrip dividendor divide the proceeds of the same of any stock, bond or scripamong its stockholders unless authorized by the commission so todo.

(RSMo 1939 § 5677, A.L. 1987 H.B. 360)

Prior revisions: 1929 § 5221; 1919 § 10509