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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3265   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR. 927

statements so made up shall be recorded in a book
kept in the principal office ofl the said corporation
in this State.

 

Sec. 69. And be it enacted, That any corporation
formed under this Article, or under the General
Laws of this State, or under any special law, and
having a capital stock, may increase or diminish
the same to any amount that may be deemed suffi-
cient,and proper for the purposes of the corporation
by complying with the provisions of the following
Sections, but every corporation incorporated under
any special law, which shall so increase or dimin-
ish its capital stock, shall remain subject in other
particulars to all the limitations contained in its
charter, or in any supplement thereto ; and every
corporation incorporated under the General Laws
of this State, or under this Article, which shall so
diminish or increase its stock, shall remain subject
in other particulars to the provisions of this Ar-
ticle.

Increase or
diminish cap-
ital.

Sec. 70. And be it enacted, That before any
corporation shall be entitled to diminish the
amount of its capital stock, under the provisions
of the last preceding Section, if the amount of its
debts and liabilities shall exceed the amount of the
capital to which it is proposed to be reduced, such
amount of debts and liabilities shall be satisfied
and reduced, so as not to exceed such diminished
amount of capital.

Debts satis-
fied.

Sec. 71. And be it enacted, That whenever any
corporation shall desire to call a meeting of the
stockholders for the purpose of increasing or di-
minishing the amount of its capital stock, the Di-
rectors, Managers or Trustees shall publish a notice
signed by at least a majority of them, in a news-
paper published in the county or counties, or city
where the principal office of said corporation is lo-
cated, if any shall be published therein, for at
least four successive weeks, and shall send or de-
posit a written or printed copy thereof in the post-
office, addressed to each stockholder or member of
such corporation, at his usual place of residence,
at least three successive weeks previous to the day
fixed for the holding such meeting. The said no-
tice shall specify the object of the meeting, the
time and place where such meeting shall be held

Notice
of meeting of
stockholders.



 

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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3265   View pdf image (33K)
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