 No corporation shall issue stocks or bonds except for money, labor done, or money or property actually received, and all fictitious increase of stock or indebtedness shall be void.  The American Commonwealth - Page 642by James Bryce Bryce (Viscount) - 1888Full view - About this book
 | Law reports, digests, etc - 1907 - 1298 pages
...which declares that "no corporation shall issue stocks or bonds except for money, labor done, or money or property actually received; and all fictitious...Increase of stock or indebtedness shall be void." The seventeenth section of the act of April 29, 1874 (PL 81), provides that full-paid stock may be issued... | |
 | Law reports, digests, etc - 1904 - 1276 pages
...is declared that "no corporation shall issue stocks or bonds except for money, labor done, or money or property actually received; and all fictitious increase of stock or indebtedness shall be void." This section is not self-expcuting, and, to give It effect, the act of May 7, 1887 (PL 94), was passed.... | |
 | California. Legislature. Senate - 1874 - 1210 pages
...legitimate business. SEC. 6. No corporation shall issue stock or bonds except for money, labor clone, or property actually received; and all fictitious...of stock or indebtedness shall be void. The stock of corporationa shaJ! not be increased, except in pursuance of general law, nor without the consent... | |
 | Texas Bar Association - Bar associations - 1893 - 116 pages
...article 12, which provides "that no corporation shall issue stock or bonds, except for money paid, labor done, or property actually received, and all fictitious...increase of stock or indebtedness shall be void." The legislation on this subject, if madfe effective, will no doubt produce a radical change in railroad... | |
 | Texas Bar Association - Bar associations - 1900 - 246 pages
...stockholders, and that (Sec. 6) "no corporation shall issue stock or bonds except for money paid, labor done, or property actually received, and all fictitious...increase of stock or indebtedness shall be void." And thus stands the organic law today. III. THE GENERAL INCORPORATION LAW. The first Legislature under... | |
 | Bankruptcy - 1926 - 988 pages
...which provides, " No corporation shall issue stocks or bonds except for money, labor done, or money or property actually received; and all fictitious increase of stock or indebtedness shall be void," denies to a Pennsylvania corporation power to issue its bonds in consideration of a pre-existing indebtedness... | |
 | United States. Supreme Court - Law reports, digests, etc - 1901 - 1380 pages
...Constitution of Texas, which provides: "No corporation shall issue stock or bonds except for money paid, labor done, or property actually received, and all fictitious...increase of stock or indebtedness shall be void." But if this section be in any way applicable and could be regarded as invalidating so much of the contract... | |
 | Pennsylvania. Commission on Constitutional Revision - Constitutional amendments - 1959 - 238 pages
...Recommended No corporation shall issue stocks Repeal. or bonds except for money, labor done or money or property actually received; and all fictitious...stock or indebtedness shall be void. The stock and indebtedness of corporations shall not be increased except in pursuance of general law. Section 8 -... | |
 | Law reports, digests, etc - 1922 - 1620 pages
...Constitution, of which are ยง 234 : "No corporation shall issue stocks or bonds except for money, labor done, or property actually received ; and all fictitious...shall not be increased except in pursuance of general laws, nor without the consent of the persons holding the larger amount in value of stock, first obtained... | |
 | Law reports, digests, etc - 1913 - 976 pages
...reads, in part, as follows: "No corporation shall issue stock or bonds, except for money paid, labor done, or property actually received, and all fictitious...increase of stock or indebtedness shall be void." The purpose of those provisions of the constitution is, of course, to preserve at all times the property... | |
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