393.210. Certificate of commission to be recorded — stock dividend prohibited.
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393.210. Certificate of commission to be recorded — stock dividend prohibited. — No gas corporation, electrical corporation, water corporation or sewer corporation governed by 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 has been recorded upon the books of the corporation or person the certificate of the commission herein provided for.
No gas corporation, electrical corporation, water corporation or sewer corporation governed by this chapter shall declare any stock, bond or scrip dividend or divide the proceeds of the sale of any stock, bond or scrip among its stockholders unless authorized by the commission so to do.
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(RSMo 1939 § 5653, A.L. 1955 p. 577, A.L. 1967 p. 578)
Prior revisions: 1929 § 5197; 1919 § 10485