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Texas Vernon's Texas Civil Statutes - Article 6426. Unpaid Stock Subscriptions
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Texas Lawyer > Vernon's Texas Civil Statutes > Texas Vernon's Texas Civil Statutes - Article 6426. Unpaid Stock Subscriptions
Art. 6426. [6629] [4554] [4263] UNPAID STOCK
SUBSCRIPTIONS. The sale of the roadbed, track, franchise and
chartered rights, as herein provided, shall not be held to pass or
convey to the purchaser any right or claim to recover from the
former stockholders of said company any sums which may remain due
upon their subscriptions of stock, but the said stockholders shall
continue liable to pay the same in discharge and liquidation of the
debts due by the sold out company, as hereinafter provided.
P.D. 4915.
Article: 6419c 6420 6421 6422 6423 6424 6425 6426 6427 6428 6429 6430 6431. [6623] [4547] DISCHARGED EMPLOYÉ. When a
railroad company shall discharge an employé, or when the time of
service of such employé shall expire, or when a railroad company
shall be due and owing an employé, such railroad company, upon
discharge, or upon the termination of the term of such service, or
upon maturity of said indebtedness, shall, within fifteen days
after the demand therefor upon the nearest station agent of said
railroad company, pay to such employé the full amount due and owing
him. If said railroad company fails or refuses to pay such employé,
then it shall be liable to pay to such employé twenty per cent on the
amount due him, as damages, in addition to the amount so due, in no
case the damages to be less than five nor more than one hundred
dollars.
Acts 1887, p. 72; G.L. vol. 9, p 6432 6432A
Last modified: August 10, 2007
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