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" ... of any surplus or net profits over and above the capital stock paid in; and in its discretion the board of directors may use and apply any such surplus or accumulated profits in purchasing or acquiring its bonds or other obligations, or shares of... "
Modern Business Corporations, Including the Organization and Management of ... - Page 212
by William Allen Wood - 1906 - 11 pages
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Reports of Cases Decided in the Court of Chancery of the State of ..., Volume 63

New Jersey. Court of Chancery - 1903 - 930 pages
...purchasing or acquiring its bonds or other obligations, or shares of its own capital stock, to such extent and in such manner and upon such terms as the...retired for the purpose of decreasing the company's capital stock, as provided by law." By-laws, section 1 and section 9, relating to contracts in which...
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Wisconsin Session Laws

Wisconsin - 1855 - 632 pages
...may open books . of subscription to the capital stock, and receive subscriptions thereto at such time and in such manner and upon such terms as the board of directors shall determine, by resolution or otherwise. SEC. 6. This act shall take effect and be in force from, and...
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Private Laws of the Territory of Kansas

Kansas - 1858 - 404 pages
...open books for subscription to the capital stock, and receive subscriptions thereto, at such tin e and in such manner, and upon such terms, as the board of directors shall determine by resolution or otherwise. This Act shall take effect and be in force from and after its...
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The Constitution of South Carolina: Adopted April 16, 1868, and the Acts and ...

South Carolina - 1868 - 942 pages
...the addition of new shares of one hundred (10U) dollars each, duly subscribed for, and paid in, in such manner, and upon such terms as the Board of Directors shall prescribe : Provided, That such increase shall have been first authorized by the votes of a majority...
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General Acts and Resolutions Adopted by the Legislature of Florida

Florida - 1872 - 132 pages
...dollars by the addition of new shares of one hundred dollars each, duly subscribed for and paid in in such manner and upon such terms as the board of directors shall prescribe : Provided, That such increase shall By-laws. Seal. 3iook ol minutes. Certiticate of »tock....
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The Supreme Court Reporter, Volume 22

1902 - 988 pages
...such extent and in euch manner and upon such terme aa the board of directors shall deem expédient; but shares of such capital stock so purchased or acquired may be resold, unless such «hares shell have been retired for the purpose of decreasing the capital stock of the corporation...
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The Lancaster Law Review, Volume 28

1911 - 452 pages
...security, of all or any part of its real and personal property, rights, privileges and franchises, and in such manner and upon such terms as the board of directors may determine." The petitioners, therefore, claim that these provisions of the Act of 1905 authorized...
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The Laws of Wisconsin, Volume 1

Wisconsin - 1883 - 484 pages
...mortgage or deed of trust, and it may dispose of such bonds or obligations, general or special, in such manner and upon such terms as the board of directors shall determine ; and every such corporation may execute such car trust, or other equipment trust or contracts...
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Laws of the State of Wisconsin, Volume 1

Wisconsin - 1883 - 480 pages
...mortgage or deed of trust, and it may dispose of such bonds or obligations, general or special, in such manner and upon such terms as the board of directors shall determine ; and every such corporation may execute such car trust, or other equipment trust or contracts...
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Atlantic Reporter, Volume 53

1903 - 1156 pages
...purchasing or acquiring its bonds or other obligations, or shares of its own capital stock, to such extent and in such manner and upon such terms as the...retired for the purpose of decreasing the company's capital stock as provided by law." ByLaws, §§ 1, 9, relating to contracts in which directors are...
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