Banking and Building Association Laws of the District of Columbia: Comp. Under the Direction of the Comptroller of the Currency, December 1, 1916, Parts 63-916

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U.S. Government Printing Office, 1916 - Banking law - 40 pages

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Page 10 - ... shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted...
Page 9 - The president and a majority of the trustees, within thirty days after the payment of the last instalment of the capital stock, so fixed and limited by the company, shall make a certificate stating the amount of the capital so fixed and paid in ; which certificate shall be signed and sworn to by the president and a majority of the...
Page 10 - If any certificate or report made, or public notice given by the officers of any such company in pursuance of the provisions of this act, shall be false in any material representation, all the officers who shall have signed the same, knowing it to be false, shall be jointly and severally liable for all the debts of the company contracted while they are stockholders or officers thereof.
Page 25 - All the stockholders of every company incorporated under this act, shall be severally, individually liable to the creditors of the company in which they are stockholders, to an amount equal to the amount of stock held by them respectively for all debts and contracts made by such company, until the whole amount of capital stock fixed and limited by such company shall have been paid in, and a certificate thereof shall have been made and recorded, as prescribed in the following section...
Page 7 - At any time hereafter, any three or more persons who may desire to form a company for the purpose of carrying on any...
Page 8 - All elections shall be by ballot, and each stockholder shall be entitled to as many votes as he owns shares of stock...
Page 8 - When the certificate shall have been filed as aforesaid, the persons who shall have signed and acknowledged the same, and their successors, shall be a body politic and corporate, in fact and in name, by the name stated in such certificate...
Page 12 - But before any corporation shall be entitled to diminish the amount of its capital stock, if the amount of its debts and liabilities shall exceed the...
Page 23 - Fourth. Such as it shall purchase at sales under judgments, decrees, or mortgages held by the association, or shall purchase to secure debts due to it. But no such association shall hold the possession of any real estate under mortgage, or the title and possession of any real estate purchased to secure any debts due to it, for a longer period than five years.
Page 21 - Third. To make and use a common seal and alter the same at pleasure. Fourth. To hold, purchase and...

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