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Session Laws, 1908 Session
Volume 483, Page 43   View pdf image (33K)
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ACT. 23. ] CORPORATIONS. 43

SEC. 45. If the writ of execution or attachment shall be issued
by a justice of the peace, the power and authority vested
by the two preceding sections in a court or any judge thereof,
shall be vested in and exercised by the Court or judge having
jurisdiction on appeal from such justice of the peace.

SEC. 46. No execution or attachment issued or levied upon
the shares of any defendant in the capital stock of a corpora-
tion standing on its books in his name, shall affect any other
interest than such as such defendant actually had in such
shares at the time of the delivery to the corporation by the
sheriff or other execution officer of the notice required by
Section 43 of this Article. Nor shall any such execution or
attachment in any way affect the right, title or interest of any
bona fide purchaser or pledgee for value without actual notice
of such execution or attachment, who shall have received the
certificate of stock with a written transfer thereof endorsed
thereon (or with a written power of attorney to sell, assign or
transfer the same), signed by the person named as stockholder
in such certificate. And such purchaser or pledgee shall have
power to name any person as attorney to transfer the shares
to him on the books of the corporation; and upon and after
the production and delivery of the original certificate to the
corporation, he shall be entitled to a new certificate for said
shares and the rights of a lawful holder thereof.

STOCKHOLDERS' RIGHTS.
Demanding Statement.

SEC. 47. If any person or persons owning in the aggregate
five per cent. of the outstanding capital stock of any corpora-
tion of this State (or five per cent. of any class of such stock,
if two or more classes have been issued), shall present to the
president or treasurer a written request for a statement of its
affairs, it shall be his duty to make such a statement under
oath, embracing a particular account of its assets and liabili-
ties in detail, and to have the same ready and on file at the
principal office of the corporation within twenty days after
the presentation of such request. And such statement shall
at all times during business hours be open to the inspection of
any stockholder, and he shall be entitled to copy the same.
And if such president or treasurer to whom such request shall
be delivered, shall neglect to file such statement, he shall for-
feit and pay to the person presenting the request the sum of
fifty dollars for each and every day's delay; and if he shall
refuse to permit any stockholder to inspect such statement

 

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Session Laws, 1908 Session
Volume 483, Page 43   View pdf image (33K)
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