 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,...  Report - Page 295by Great Britain. Commissioners appointed to inquire and ascertain how far the Mercantile Laws in the different parts of the United Kingdom of Great Britain and Ireland may be advantageously assimilated and also whether any and what alterations and amendments should be made in the Law of artnership as regards the question of the limited or unlimited responsibility of partners - 1854Full view - About this book
 | New York (State) - 1867 - 1404 pages
...or which 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... | |
 | 1856 - 532 pages
...payment of which 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... | |
 | 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 loans tojnemto any others... | |
 | New Jersey - 1842 - 1396 pages
...unable to pay 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... | |
 | New Jersey - 1847 - 954 pages
...and in case of -nny excess, the directors under whose administration it shall happen shall be jointly and severally liable, to the extent of such excess,...be reduced to the said amount of the capital stock; provided, that any of the directors who shall be absent at the time of contracting any debt contrary... | |
 | 1848 - 694 pages
...or which would diminish ihe amount of its capital mock, 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: Prodded, That if any of the... | |
 | James Philemon Holcombe - 1848 - 528 pages
...in : and in case of any excess, the directors under whose administration it happens will be jointly and severally liable to the extent of such excess, for all the debts of the corporation then existing and for all those contracted while they respectively continue in office,... | |
 | 1848 - 966 pages
...dividend, the 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... | |
 | New York (State). Legislature - 1848 - 672 pages
...any dividend the payment of which would render it insolvent, shall be jointly and severally liable for all the debts of the company then existing, and for all that shall thereafter be contracted, so long as they shall respectively continue in office. § 21. In case the... | |
 | Illinois - 1849 - 452 pages
...companies 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... | |
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