Effective - 28 Aug 1939
394.280. Provisions of securities law not to apply. — The provisions of the securities law of Missouri shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation transacting business in this state pursuant to this chapter to the United States of America or any agency or instrumentality thereof, or to any mortgage or deed of trust executed to secure the same. The provisions of said securities law shall not apply to the issuance of membership certificates by any cooperative or any such foreign corporation.
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(RSMo 1939 § 5414)