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Page 50 - ... but the person pledging such stock shall be considered as holding the same, and shall be liable as a stockholder accordingly; and the estates and funds in the hands of such executor, administrator, guardian or trustee shall be liable in like manner, and to the same extent as the testator or intestate, or the ward or person interested in such trust fund would have been, if he had been living and competent to act, and held the same stock in his own name.
Page 49 - ... who shall assent thereto, shall be 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 49 - If any certificate or report made, or public notice given by the officers of any such company in pursuance of the provisions of this act, shall be false in any material representation, all the officers who shall have signed the same, knowing it to be false, shall be jointly and severally liable for all the debts of the company contracted while they are stockholders or officers thereof.
Page 49 - ... 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.
Page 50 - ... any company which may be formed under this act, may increase or diminish its capital stock by complying with the provisions of this act, to any amount which may be deemed sufficient and proper for the purposes of the corporation, and may also extend its business to any other manufacturing, mining, mechanical or chemical business, subject to the provisions and liabilities of this act.
Page 48 - The stock, property and concerns of such company, shall be managed by not...
Page 49 - ... of capital, and of the proportion actually paid in, and the amount of its existing debts, which report shall be signed by the president and a majority of the trustees...
Page 47 - When the certificate shall have been filed, 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...