The Organization And Management of a Business Corporation : With Special Reference to the Laws of New York, New Jersey, Delaware, West Virginia
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Every corporation may issue one or more classes of preferred stock if [provision is made there- for in the certificate of incorporation, or if the same is created by unanimous agreement of the stockholders.
By a two-third's vote of the directors, such preferred stock may be exchanged for common stock, share for share, or upon any other valuation fixed at the time of issuing said preferred stock. (Stock Corp. Law, § 47.) Treasury Stock. There are no statutory provisions in regard to treasury sto...ck in New York. Such stock would be subject to the common law rules (See Chap. Ill, § 7, this work) and to the provisions of the by-laws.
Stock of other Corporations maybe held. (See "Charter Formalities," this chapter.) Dividends. "No dividends shall be declared except from surplus profits, nor shall any part of the capital stock be withdrawn or impaired to pay dividends." (Stock Corp. Law, §23.) Sundry. One half of the capital stock of every corpo- ration shall be paid within one year from its incorpora- tion, or the corporation shall be dissolved.
What to read after The Organization And Management of a Business Corporation : With Special Reference to the Laws of New York, New Jersey, Delaware, West Virginia?
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To quickly assess the difficulty of the text, read a short excerpt:
Every corporation may issue one or more classes of preferred stock if [provision is made there- for in the certificate of incorporation, or if the same is created by unanimous agreement of the stockholders.
By a two-third's vote of the directors, such preferred stock may be exchanged for common stock, share for share, or upon any other valuation fixed at the time of issuing said preferred stock. (Stock Corp. Law, § 47.) Treasury Stock. There are no statutory provisions in regard to treasury sto...ck in New York. Such stock would be subject to the common law rules (See Chap. Ill, § 7, this work) and to the provisions of the by-laws.
Stock of other Corporations maybe held. (See "Charter Formalities," this chapter.) Dividends. "No dividends shall be declared except from surplus profits, nor shall any part of the capital stock be withdrawn or impaired to pay dividends." (Stock Corp. Law, §23.) Sundry. One half of the capital stock of every corpo- ration shall be paid within one year from its incorpora- tion, or the corporation shall be dissolved.
What to read after The Organization And Management of a Business Corporation : With Special Reference to the Laws of New York, New Jersey, Delaware, West Virginia?
You can find similar books in the "Read Also" column, or choose other free books by Conyngton, Thomas, B. 1855 to read onlineMoreLess
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