The capital stock to be named in the certificate aforesaid shall in no case be greater than the amount of the capital stock specified in the original charter of the railroad so sold and any amendment or amendments thereto. Nothing herein contained, however, shall be construed to prevent an increase of capital stock to such additional amount as may be needed to convert any bonds or other indebtedness of the original corporation into stock and the corporation so formed may divide its capital stock into common and preferred stock upon such terms and with such conditions as may be prescribed.
HISTORY: 1962 Code Section 58-905; 1952 Code Section 58-905; 1942 Code Section 8276; 1932 Code Section 8221; Civ. C. '22 Section 4785; Civ. C. '12 Section 3116; Civ. C. '02 Section 2042; G. S. 1420; R. S. 1610; 1881 (17) 793; 1889 (20) 377.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
