Sec. 4.
The amount of capital stock in every such corporation shall be fixed by the stockholders in their articles of association, but shall in no case be less than 10,000 dollars; said stock may be increased from time to time as may be directed by the stockholders; and when the same is so increased, the same record shall be made of the fact, with the name of the stockholders, as required by section 2 of this act; and all the stock of said company shall be divided into shares of 50 dollars each.
History: 1869, Act 113, Imd. Eff. Apr. 3, 1869 ;-- CL 1871, 3358 ;-- How. 3113 ;-- CL 1897, 8503 ;-- CL 1915, 11285 ;-- CL 1929, 11878 ;-- CL 1948, 486.304
Last modified: October 10, 2016