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Texas Vernon's Texas Civil Statutes - Article 6347. May Pay Bonds With Stock

Legal Research Home > Texas Lawyer > Vernon's Texas Civil Statutes > Texas Vernon's Texas Civil Statutes - Article 6347. May Pay Bonds With Stock

Art. 6347. [6547] [4489] [4222] MAY PAY BONDS WITH 
STOCK.  The directors shall be empowered, in pursuance of any such 
resolution, to confer on any holder of any bond for money so 
borrowed as aforesaid, the right to convert the principal of such 
bond into the stock of such corporation at any time not exceeding 
ten years after the date of such bond, under such regulations as the 
by-laws of such corporation may provide.

Acts 1876, p. 142; G.L. vol. p. 978.                                          

Last modified: August 10, 2007