392 CORPORATIONS—EXECUTION AGAINST STOCK. [ART. 23.

1868, ch. 471, sec. 197.

276. The court in which any suit or proceeding against a
corporation which shall have been dissolved by the expiration of
its charter, or otherwise, shall be pending at the time of such
dissolution, shall have power, on the application of either party
thereto, to make an order for the continuance of such suit or
proceeding, and the same may thereafter be continued until final
judgment or decree shall be had therein, which shall have the
like effect upon the rights of the parties as if such corporation
bad not been dissolved.

Execution Against the Stock of Corporations.

1868, ch. 471, sec 198. 1886, ch. 287.

277. Any interest which any defendant in a judgment or de-
cree rendered by a court of law or equity, or in a proceeding by
attachment on original process, has in the capital, joint stock or
debts of a corporation transferable on its books, shall be liable to
execution or attachment, and the same proceedings shall be had
as in other cases, except when they are varied by the following
sections; provided, that all executions or attachments levied or laid
upon the shares or interest of any defendant in the capital, joint
stock or debts of a corporation standing on its books in his name,
shall only affect the interest which such defendant had in such
capital, joint stock or debts at the time of levying such execution
or attachment, and shall not in any way affect the right, title or
interest acquired by any bona fide purchaser or pledgee for value
to or in the capital, joint stock or debts of such corporation stand-
ing on its books in the name of such defendant, by a sale or pledge
thereof by such defendant by a delivery of the certificate repre-
senting such capital, joint stock or debts, with a power of attorney
to transfer the same made prior to the levying of such execution
or attachment, and that nothing contained in the succeeding sec-
tions of this article shall be construed to apply to any such capi-
tal, joint stock or debts so sold or pledged, or to prohibit or pre-
vent any such corporation or purchaser or pledgee from transfering
the said capital, joint stock or debts represented by such certificate
upon the books of the corporation in the same manner and to the
same effect as if no such execution or attachment had been levied.