Missouri § 375.424 - Unlawful for officer or director to sell equity security not owned by him — delivery.
Full text of Missouri Revised Statutes of Missouri § 375.424 — Unlawful for officer or director to sell equity security not owned by him — delivery., with citation guidance and answers to common questions.
§ 375.424. Unlawful for officer or director to sell equity security not owned by him — delivery.
It shall be unlawful for any beneficial owner, director or officer, directly or indirectly, to sell any equity security of such company if the person selling the security or his principal does not own the security sold, or if owning the security, does not deliver it against such sale within twenty days thereafter, or does not within five days after such sale deposit it in the mails or other usual channels of transportation; but no person shall be deemed to have violated this section if he proves that notwithstanding the exercise of good faith he was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense.
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(L. 1965 p. 575 § 3)
---- end of effective 28 Aug 1965 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 375.424
What does Revised Statutes of Missouri § 375.424 cover?
Section 375.424 ("Unlawful for officer or director to sell equity security not owned by him — delivery.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 375.424?
A common citation format is "Revised Statutes of Missouri § 375.424" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 375.424 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.