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Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

  Chapter 349back to chapter 349

  349.060.  Notes, issuance, provisions, sale. — Pending the issuance of bonds, the corporation may issue notes payable from the proceeds of such bonds or from such other sources as the corporation may specify as in the case of bonds.  Such notes shall mature in not more than five years and shall be sold at public or private sale as the corporation may specify at not less than ninety-five percent of the principal amount thereof and at an interest rate not in excess of the maximum rate, if any, applicable to general and business corporations.  The other details with respect to such notes shall be determined by the corporation as in the case of bonds.

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(L. 1977 S.B. 267 § 11, A.L. 1980 H.B. 1582 & 1277)


< end of effective 28 Aug 1980 >

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