Section 26. A corporation may, by a vote of its general stockholders at a meeting called for the purpose, issue employees’ stock to be held only by the employees of such corporation. The par value of the shares of such employees’ stock shall be ten dollars, and the purchasers thereof may pay for them in monthly instalments of one dollar upon each share. The total amount of such employees’ stock outstanding at any time shall not exceed two fifths of the actual capital paid in on the general and employees’ stock.
Section: Previous 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 NextLast modified: September 11, 2015