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Section 387.240 Right to issue stocks, bonds and notes is subject to regulation by state.

MO Rev Stat § 387.240 (2019) (N/A)
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Effective 28 Aug 1996

387.240. Right to issue stocks, bonds and notes is subject to regulation by state. — The power of motor carriers to issue stocks, and bonds, notes and other evidences of indebtedness and to create liens upon their property situated in this state is a special privilege, the right of supervision, regulation, restriction, and control of which is and shall continue to be vested in the state, and such power shall be exercised as provided by law and under such rules and regulations as the division of motor carrier and railroad safety may prescribe.

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(RSMo 1939 § 5631, A.L. 1996 S.B. 780)

Prior revisions: 1929 § 5175; 1919 § 10463

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Section 387.270 Common carriers may issue stocks, bonds or other forms of indebtedness, when — approval of the division of motor carrier and railroad safety.