Colorado Statutes
§ 7-51-111 — Purchase of property
The directors, trustees, or other similar
officers of any such corporation may purchase real and personal property
necessary for their business and issue stock to the amount of the value thereof in
payment therefor; and the stock so issued shall be declared to be full-paid stock
and not liable to any further calls or assessments thereon nor for any debt of the
corporation.
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Legislative History
Source: L. 1879: p. 37, � 11. G.S. � 394. R.S. 08: � 1044. C.L. � 2410. CSA: C.
41, � 207. CRS 53: � 31-22-11. C.R.S. 1963: � 31-21-11.
Nearby Sections
15
§ 7-101-101
Short title§ 7-101-102
Reservation of power to amend or repeal§ 7-101-201
Filing requirements§ 7-101-401
General definitions§ 7-101-501
Short title§ 7-101-504
Nonprofit corporations§ 7-101-506
Duties of directors§ 7-101-507
Benefit report - definition§ 7-101-509
No effect on other corporations§ 7-102-101
Incorporators§ 7-102-102
Articles of incorporation§ 7-102-103
Incorporation