95.490. Bonds presumed to have been regularly authorized and issued — negotiability (cities over 100,000).
148 words·~1 min read·
/mo/chapter-95/95-490A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
95.490. Bonds presumed to have been regularly authorized and issued — negotiability (cities over 100,000). — All bonds purporting to be issued by virtue or in pursuance of sections 95.470 to 95.485 , and signed and sealed as herein provided, shall in favor of bona fide holders, be conclusively presumed to have been duly and regularly authorized and issued in accordance with the provisions herein contained and no holder shall be obliged to see to the existence of the purpose of the issue, or to the regularity of any of the proceedings, or to the validity of the judgments and decrees to be paid, or to the application of the proceeds.
All such bonds shall be negotiable in all respects and to the same extent as securities negotiable by the law merchant.
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(RSMo 1939 § 7581)
Prior revisions: 1929 § 7438; 1919 § 8846; 1909 § 9695