2011 Missouri Revised Statutes
TITLE XXV INCORPORATION AND REGULATION OF CERTAIN UTILITIES AND CARRIERS
Chapter 388 Railroad Corporations
Section 388.060. Corporate powers to cease, when.
Corporate powers to cease, when.
388.060. If any corporation formed under this chapter shall not, within two years after its articles of association are filed and recorded in the office of the secretary of state, begin the construction of its road, and shall not within one year thereafter expend thereon not less than ten percent on the amount of its capital, or shall not finish its road and put it in operation in ten years from the time of filing its articles of association as aforesaid, its corporate existence and powers shall cease; provided, that if a portion of its road shall be finished and in operation, it shall continue its corporate existence, with power to hold and manage the portion of its road so constructed, and for no other purpose.
(RSMo 1939 5248)Prior revisions: 1929 4810; 1919 9999; 1909 3212
Annotation Copyright Missouri Joint Committee on Legislative Research
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