 If the directors of any such company shall declare and pay any dividend, when the company is insolvent or any dividend, the payment of which would render it insolvent, they shall be jointly and severally liable for all the debts of the company then existing,...  Journal of the Franklin Institute - Page 81848Full view - About this book
 | New York (State) - Law - 1867 - 1404 pages
...and, if the said directors shall fail so to do, all the directors of the company shall be jointly and severally liable for all the debts of the company then existing and for all that shall be contracted before such report shall be made. § 15. No person holding stock in said company as executor,... | |
 | Law reports, digests, etc - 1856 - 532 pages
...dividend the payment of which would to their knowledge render it insolvent, they shall be jointly and severally liable for all the debts of the company...thereafter contracted, so long as they shall respectively continue in office: Provided always, that the amount for which they shall all be so liable shall not... | |
 | New Jersey - Session laws - 1842 - 1396 pages
...of the said companies shall fail so to do, all the stockholders of the company shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be contracted before such notice shall be given. 26. And be it enacted, That if the directors of any such... | |
 | New Jersey - Session laws - 1847 - 954 pages
...administration it shall happen shall be jointly and severally liable, to the extent of such excess, for all the debts of the company then existing, and for all that shall be contracted, so long as they shall respectively continue in office, until the debts shall be reduced... | |
 | Commerce - 1848 - 694 pages
...render it insolvent, or which would diminish ihe amount of its capital mock, they shall be jointly and severally liable for all the debts of the company...existing, and for all that shall be thereafter contracted, while they shall respectively continue in office: Prodded, That if any of the trustees shall object... | |
 | Commerce - 1848 - 688 pages
...if any of said companies shall fail so to do, ail die trustees of the company shall be jointly and severally liable for all the debts of the company, then existing, and for all that shall be contracted before snch report shall be made. Sec. 13. If the trustees of any such company shall declare... | |
 | New York (State). Legislature - Law - 1848 - 672 pages
...is insolvent, or any dividend the payment of which would render it insolvent, shall be jointly and severally liable for all the debts of the company then existing, and for all that shall thereafter be contracted, so long as they shall respectively continue in office. § 21. In case the... | |
 | James Philemon Holcombe - Debtor and creditor - 1848 - 528 pages
...render it insolvent, they will be jointly and severally liable for all the debts of the corporation then existing, and. for all that shall be thereafter contracted, so long as they respectively continue in office ; provided that the amount for which they are so liable will not exceed... | |
 | Missouri - 1848 - 718 pages
...diminish the amount of its capital stock, they shall be jointly and severally liable for all the debis of the company then existing, and for all that shall be thereafter contracted, while they shall respectively continue in office : Provided, that if any of the trustees shall object... | |
 | Illinois - Law - 1849 - 452 pages
...render it insolvent, or which would diminish the amount of its capital stock, they shall be jointly and severally liable for all the debts of the company then existing, and lor all that shall be thereafter contracted, while they shall reProriso. speclively continue in office;... | |
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