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" If the directors of any such company shall declare and pay any dividend, when the company is insolvent, or any dividend the payment of which would render it insolvent, they shall be jointly and severally liable for all the debts of the company then existing... "
The Federal Reporter: Cases Argued and Determined in the Circuit and ... - Page 159
1908
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Laws of the State of New York, Volume 2

New York (State) - 1867 - 1404 pages
...would diminish the amount of its capital stock, they shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted while they shall respectively continue in office. Provided, that if any of the...
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The Law Journal for the Year 1832-1949: Comprising Reports of Cases in the ...

1856 - 532 pages
...would to their knowledge render it insolvent, they shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted, so long as they shall respectively continue in office: Provided always, that...
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Private and Special Statutes of the Commonwealth of Massachusetts ..., Volume 9

Massachusetts - 1837 - 870 pages
...shall nee^ j^J0™,,,! happen, shall be jointly and severally liable for all the det>ts j^™"* for a11 of the company then existing, and for all that shall be contracted so long as they shall continue in office. SECTION 6. The association shall in no case loan its funds...
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Acts of the General Assembly of the State of New Jersey

New Jersey - 1842 - 1396 pages
...of which would render it so unable, they shall be jointly and its debtsseverally liable for all the debts of the company then existing and for all that shall be thereafter contracted, so long as they shall respectively continue in office ; provided, that the amount...
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Acts of the General Assembly of the State of New Jersey

New Jersey - 1847 - 954 pages
...administration it shall happen shall be jointly and severally liable, to the extent of such excess, for all the debts of the company then existing, and for all that shall be contracted, so long as they shall respectively continue in office, until the debts shall be reduced to the said...
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The Western Journal, of Agriculture, Manufactures, Mechanic Arts ..., Volume 1

1848 - 718 pages
...shall fail so to do, all the trustees of the company shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be contracted belore such report shall be made. Sec. 13. If the trustees of any such company shall declare and pay...
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Laws of the State of New York Passed at the Sessions of the Legislature

New York (State). Legislature - 1848 - 672 pages
...payment of which would render it insolvent, they shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted, so long as they shall respectively continue in office : Provided, That if any...
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Merchants' Magazine and Commercial Review, Volume 18

1848 - 688 pages
...would diminish the amount of its capital stock, they shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted, while they shall respectively continue in office : Provided, That if any of...
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Journal of the Franklin Institute

1848 - 966 pages
...payment of which would render it insolvent, they shall be jointly anil severally liable for all the debts of the company then existing, and for all that shall be thereafter contracted, so long as they shall respectively remain in office: Provided, That if any of...
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Laws

Illinois - 1849 - 452 pages
...shall fail so to do, all the trustees of the company shall be jointly and severally liable for all the debts of the company then existing, and for all that shall be contracted before such report shall be nude. Wo dividend in § J 3. If the trustees of any such company shall declare and сазе of inaoi-...
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