392.290. Right to issue stocks, bonds and notes is subject to regulation by state — exception — limitation on powers of commission.
188 words·~1 min read·
/mo/chapter-392/392-290A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
392.290. Right to issue stocks, bonds and notes is subject to regulation by state — exception — limitation on powers of commission. — 1. The power of telecommunications companies to issue stocks, bonds, notes and other evidence 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 commission may prescribe.
2. Notwithstanding any other provision of this chapter to the contrary, no telecommunications company operating in Missouri and one or more other states shall be required to obtain authorization from the commission to issue stocks, bonds, notes or any other evidence of indebtedness; nor shall any such telecommunications company be required to obtain authorization from the commission in order to encumber the whole or any part of its franchise line or system.
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(RSMo 1939 § 5674, A.L. 1986 S.B. 625, A.L. 1987 H.B. 360)
Prior revisions: 1929 § 5218; 1919 § 10506