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Page 367 - All the stockholders of every company incorporated under this act shall be severally individually liable to the creditors of the company in which they are stockholders, to an amount equal to the amount of stock held by them, respectively, for all debts and contracts made by such company until the whole amount of capital stock fixed and limited by such company shall have been paid in, and a certificate thereof shall have been made and recorded as prescribed in the following section.
Page 365 - When the certificate shall have been filed_as aforesaid, the persons who shall have signed and acknowledged the same, and their successors, shall be a body politic and corporate, in fact and in name, by the name stated in such certificate...
Page 368 - ... a suitable person for secretary, and proceed to a vote of those present, in person or by proxy, and if on canvassing the votes it shall appear that a sufficient number of votes has been given in favor of increasing or diminishing the amount of...
Page 117 - Newark, and by that name they and their successors shall be and are hereby made capable in law of suing and being sued, pleading and being impleaded, answering and being answered unto, in all courts and places whatsoever, to make and use a common seal, and...
Page 367 - ... but before any corporation shall be entitled to diminish the amount of its capital stock, if the amount of its debts and liabilities shall exceed the...
Page 368 - ... a certificate of the proceedings, showing a compliance with the provisions of this act, the amount of capital actually paid in, the whole amount of debts and liabilities of the company, and the amount to which the capital stock shall be increased or diminished, shall be made out, signed and verified by the affidavit of the chairman, and be countersigned by the secretary ; and such certificate shall be acknowledged by the chairman, and filed as required by the first section of this act...
Page 367 - ... jointly and severally liable, to the extent of such loan and interest, for all the debts of the company contracted before the repayment of the sum. so loaned.
Page 367 - ... shall be jointly and severally liable for all the debts of the company, then existing, and for all that shall be contracted before such report shall be made.