2011 Missouri Revised Statutes
TITLE XXV INCORPORATION AND REGULATION OF CERTAIN UTILITIES AND CARRIERS
Chapter 387 Motor Carriers Generally
Section 387.280. Certificate of division of motor carrier and railroad safety to be recorded--stock dividends prohibited.
Certificate of division of motor carrier and railroad safety to be recorded--stock dividends prohibited.
387.280. 1. No motor carrier governed by the provisions of this chapter shall issue any stock, bonds, notes or other evidence of indebtedness, for money, property or services, either directly or indirectly, nor shall it receive any money, property or services in payment of the same, either directly or indirectly, until there shall have been recorded upon the books of such corporation or person the certificate of the division of motor carrier and railroad safety herein provided for.
2. No motor carrier governed by the provisions of this chapter shall declare any stock, bond or scrip dividend or divide the proceeds of the same of any stock, bond or scrip among its stockholders unless authorized by the division so to do.
(RSMo 1939 5635, A.L. 1996 S.B. 780)Prior revisions: 1929 5179; 1919 10467
Annotation Copyright Missouri Joint Committee on Legislative Research
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