Delaware § 746 Par value of stock; payment for and issuance; increase and reduction

Delaware Statutes

§ 746 — Par value of stock; payment for and issuance; increase and reduction

Delaware·Title 5·Part Banks and Trust Companies·Ch. 7 CORPORATION LAW FOR STATE BANKS AND TRUST COMPANIES·Subch. Conduct of Internal Corporate Affairs

The capital stock shall be divided into shares of a stated par value. No business shall be transacted by the corporation until the whole amount of its capital stock is subscribed for and actually paid in in cash. No stock shall be issued by any corporation until the par value thereof shall be fully paid in in cash. Any corporation may, subject to the approval of the State Bank Commissioner, increase or reduce its capital stock in the manner hereinafter provided. In the case of a reduction, the capital stock shall not be reduced to less than the amount required by § 745 of this title.

Free access — add to your briefcase to read the full text and ask questions with AI

The capital stock shall be divided into shares of a stated par value. No business shall be transacted by the corporation until the whole amount of its capital stock is subscribed for and actually paid in in cash. No stock shall be issued by any corporation until the par value thereof shall be fully paid in in cash. Any corporation may, subject to the approval of the State Bank Commissioner, increase or reduce its capital stock in the manner hereinafter provided. In the case of a reduction, the capital stock shall not be reduced to less than the amount required by § 745 of this title.

Delaware § 746 (Par value of stock; payment for and issuance; increase and reduction) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.