354.305. Corporation advertising assets also to show liabilities--penalties.
Corporation advertising assets also to show liabilities--penalties.
354.305. 1. Whenever any corporation subject to the provisions ofsections 354.010 to 354.380 doing business in this state advertises itsassets, either in any newspaper or periodical, or by any sign, circular,card, policy of insurance or certificate of renewal thereof, it shall, inthe same connection, equally conspicuously advertise its liabilities, thesame to be determined in the manner required in making statement to thedepartment, and all advertisements purporting to show the amount of capitalof the company shall show only the amount of capital actually paid up incash.
2. Any corporation subject to the provisions of sections 354.010 to354.380 or enrollment representative violating the provisions of thissection shall, upon conviction thereof, be guilty of a class B misdemeanor,punishable as provided by law.
(L. 1983 H.B. 127, A.L. 2008 S.B. 788)