Declarations of Trust As Effective Substitutes for Incorporation
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The Trustees shall not be liable for errors of judgment either in holding property originally conveyed to them or in acquiring and afterward holding additional property, nor for any loss arising out of any investmeijt, nor for any act or omission to act performed or omitted by them in the execution of this trust in good faith, nor shall they be liable for the acts or omissions of each other or of any officer, agent, or servant appointed by or acting for them, and they shall not be obliged to gi...ve any bond to secure the due performance of this trust by them.
SJXTH. Shares hereunder shall be of the par value of one hundred ($100.00) dollars each, and shall be divided into preferred and common shares. The preferred shares shall entitle the holder to accumulative semi-annual divi- dends at the rate of 4 per centum per annum, and no more, the same to be paid or set apart before any dividend shall be paid or set apart for the common shares; and in case of liquidation, the proceeds of the liquidation shall be first applied to the payment to the holder of preferred shares, of the sum of one hundred dollars per share and any accrued and unpaid dividends thereon, and the balance remaining thereafter shall be divided among the holders of common shares in proportion to their holdings.
What to read after Declarations of Trust As Effective Substitutes for Incorporation?
You can find similar books in the "Read Also" column, or choose other free books by John H John Harold Sears to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The Trustees shall not be liable for errors of judgment either in holding property originally conveyed to them or in acquiring and afterward holding additional property, nor for any loss arising out of any investmeijt, nor for any act or omission to act performed or omitted by them in the execution of this trust in good faith, nor shall they be liable for the acts or omissions of each other or of any officer, agent, or servant appointed by or acting for them, and they shall not be obliged to gi...ve any bond to secure the due performance of this trust by them.
SJXTH. Shares hereunder shall be of the par value of one hundred ($100.00) dollars each, and shall be divided into preferred and common shares. The preferred shares shall entitle the holder to accumulative semi-annual divi- dends at the rate of 4 per centum per annum, and no more, the same to be paid or set apart before any dividend shall be paid or set apart for the common shares; and in case of liquidation, the proceeds of the liquidation shall be first applied to the payment to the holder of preferred shares, of the sum of one hundred dollars per share and any accrued and unpaid dividends thereon, and the balance remaining thereafter shall be divided among the holders of common shares in proportion to their holdings.
What to read after Declarations of Trust As Effective Substitutes for Incorporation?
You can find similar books in the "Read Also" column, or choose other free books by John H John Harold Sears to read onlineMoreLess
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