North Carolina Corporation Code, Annotated: Containing the Statutes Affecting Private Corporations as Amended by the Extra Session of the General Assembly of 1921, and the Construction of These Statutes by the Courts Prior to January L, 1922, Together with Various Corporate Forms |
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Page 52
... otherwise obtained for its use , as a right of way , depot , station- house or place of landing , by any statute of limitation or by occu pation of the same by any person whatever . C. S. , s . 434 ; Rev. , s . 388 ; Code , s . 150 ...
... otherwise obtained for its use , as a right of way , depot , station- house or place of landing , by any statute of limitation or by occu pation of the same by any person whatever . C. S. , s . 434 ; Rev. , s . 388 ; Code , s . 150 ...
Page 67
... otherwise stated , all shares of stock are on an equality . It will not be difficult to find cases where the preference provided for in resolution and certificate can be construed merely into a priority of pay- ment , and not a limit ...
... otherwise stated , all shares of stock are on an equality . It will not be difficult to find cases where the preference provided for in resolution and certificate can be construed merely into a priority of pay- ment , and not a limit ...
Page 68
... have par value . 4. Any such corporation heretofore organized , whether under a special act of legislature or otherwise , may amend its certificate of incorporation , so as to change its certificates of 68 NORTH CAROLINA CORPORATION CODE.
... have par value . 4. Any such corporation heretofore organized , whether under a special act of legislature or otherwise , may amend its certificate of incorporation , so as to change its certificates of 68 NORTH CAROLINA CORPORATION CODE.
Page 69
... otherwise provided by this act , corporations issu- ing shares without any par or face value under the provisions hereof , shall be and remain subject to the laws of the state now or hereafter in force relating to the formation ...
... otherwise provided by this act , corporations issu- ing shares without any par or face value under the provisions hereof , shall be and remain subject to the laws of the state now or hereafter in force relating to the formation ...
Page 72
... otherwise valid , is enforceable by the corporation against its members . Misenheimer v . Alexander , 162 N. C. 227 , 78 S. E. 161 . Corporations § 67. No part of capital stock can be withdrawn for the purpose of reimbursing the ...
... otherwise valid , is enforceable by the corporation against its members . Misenheimer v . Alexander , 162 N. C. 227 , 78 S. E. 161 . Corporations § 67. No part of capital stock can be withdrawn for the purpose of reimbursing the ...
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North Carolina Corporation Code, Annotated: Containing the Statutes ... James Hinton Pou No preview available - 2017 |
North Carolina Corporation Code, Annotated: Containing the Statutes ... James Hinton Pou No preview available - 2017 |
Common terms and phrases
action agent amendment amount apply appointed assessed assets association authorized bank Bills and Notes board of directors bonds by-laws capital stock cent certificate of incorporation charter Commercial Building Company commissioner of revenue contract corporation commission coupon bonds coupons creditors debts deed of trust deemed deposit dividends duly duty election entitled execution filed foreign corporation franchise funds hereby hereunder holder income Indenture indorsement insolvent instrument insurance commissioner insurance company interest issued liable license lien loan meeting ment mortgage negotiable instrument North Carolina notice number of shares organized paid pany par value party payable payment person plaintiff poration preferred stock president purchase purpose railroad receiver register of deeds seal secretary secured service of process shares of stock statute stockholders superior court thereof thereto tion transfer treasurer Trustee vote
Popular passages
Page 314 - ... but the person pledging such stock shall be considered as holding the same, and shall be liable as a stockholder accordingly, and the estates and funds in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 210 - To constitute notice of an infirmity in the instrument or defect in the title of the person negotiating the same, the person to whom it is negotiated must have had actual knowledge of the infirmity or defect, or knowledge of such facts that his action in taking the instrument amounted to bad faith.
Page 148 - ... shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein at the par value thereof, in addition to the amount invested in such shares...
Page 200 - The indorsement must be an indorsement of the entire instrument. An indorsement, which purports to transfer to the indorsee a part only of the amount payable, or which purports to transfer the instrument to two or more indorsees severally, does not operate as a negotiation of the instrument. But where the instrument has been paid in part, it may be indorsed as to the residue.
Page 455 - In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case...
Page 457 - Any amount paid out for new buildings or for permanent Improvements or betterments made to increase the value of any property or estate...
Page 151 - To exercise by its board of directors, or duly authorized officers or agents, subject to law, all such incidental powers as shall be necessary to carry on the business of banking; by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin and bullion; by loaning money on personal security; and by obtaining, issuing and circulating notes according to the provisions of this Title.
Page 235 - The holder may refuse to take a qualified acceptance, and if he does not obtain an unqualified acceptance, he may treat the bill as dishonored by non-acceptance. Where a qualified acceptance is taken the drawer and indorsers are discharged from liability on the bill, unless they have expressly or impliedly authorized the holder to take a qualified acceptance, or subsequently assent thereto.
Page 454 - Whenever In the opinion of the Commissioner the use of Inventories is necessary in order clearly to determine the Income of any taxpayer, Inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice In the trade or business and as most clearly reflecting the Income.
Page 233 - The acceptance of a bill is the signification by the drawee of his assent to the order of the drawer. The acceptance must be in writing and signed by the drawee. It must not express that the drawee will perform his promise by any other means than the payment of money.