353.100. When corporation may pay interest on its income debentures or dividends on its stock.
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/mo/chapter-353/353-100A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
353.100. When corporation may pay interest on its income debentures or dividends on its stock. — No urban redevelopment corporation shall pay any interest on its income debentures or dividends on its stock during any dividend year unless there shall exist at the time of such payment no default under any amortization requirements with respect to its indebtedness, nor unless all accrued interest, taxes and other public charges shall have been duly paid or reserves set up for the payment thereof, and adequate reserves provided for depreciation, obsolescence and other proper reserves.
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(L. 1945 p. 1242 § 9)