392.340. Reorganization.

MISSOURI STATUTES AND CODES

Reorganization.

392.340. 1. Reorganization of telecommunications companiesshall be subject to the supervision and control of the commissionand no such reorganization shall be had without the authorizationof such commission.

2. Upon all such reorganizations the amount ofcapitalization, including therein all stocks and bonds and otherevidence of indebtedness, shall be such as is authorized by thecommission, which, in making its determination, shall not exceedthe fair value of the property involved, taking intoconsideration its original cost of construction, duplicationcost, present condition, earning power at reasonable rates andall other relevant matters and any additional sum or sums asshall be actually paid in cash except, that the commission maymake due allowance for discount of bonds. Any reorganizationagreement before it becomes effective shall be amended so thatthe amount of capitalization shall conform to the amountauthorized by the commission. The commission may by its orderimpose such condition or conditions as it may deem reasonable andnecessary.