Missouri § 379.1394 - Dividend-payments, limitations.
Full text of Missouri Revised Statutes of Missouri § 379.1394 — Dividend-payments, limitations., with citation guidance and answers to common questions.
§ 379.1394. Dividend-payments, limitations.
1. A SPLRC may not declare or pay dividends in any form to its owners other than in accordance with the transaction agreements.
2. Dividends may not decrease the capital of the SPLRC below the minimum initial capital requirement.
3. After giving effect to the dividends the assets of the SPLRC, including assets held in trust and letters of credit issued for the exclusive benefit of the SPLRC, must be sufficient to satisfy the director that it can meet its obligations.
4. Approval of the director for ongoing dividends of other distributions must be conditioned upon the retention at the time of each payment of capital or surplus equal to or in excess of amounts specified by or determined in accordance with formulas approved for the SPLRC by the director.
5. Dividends may be declared by the management of the SPLRC provided that the dividend amount or form does not violate the provisions of sections 379.1353 to 379.1421 or jeopardize the fulfillment of the obligations of the SPLRC.
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(L. 2007 S.B. 215)
---- end of effective 28 Aug 2007 ----
Frequently Asked Questions About Missouri § 379.1394
What does Revised Statutes of Missouri § 379.1394 cover?
Section 379.1394 ("Dividend-payments, limitations.") 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 § 379.1394?
A common citation format is "Revised Statutes of Missouri § 379.1394" (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 § 379.1394 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.