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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 Law and Practice of Joint Stock Companies Under the Canadian Acts: A ... - Page 546
by Charles Henry Stephens - 1881 - 627 pages
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Laws of the State of New York, Volume 2

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...
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The Law Journal for the Year 1832-1949: Comprising Reports of Cases in 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...
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Acts of the General Assembly of the State of New Jersey

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,...
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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...
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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
...fail so to do, all the directors of the company failing so to do shall he 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 made. "rorUjpn 6 13. If the directors of any such...
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Merchants' Magazine and Commercial Review, Volume 18

1848 - 694 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 rach report shall be made. Sec. 13. If the trustees of any such company...
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Journal of the Franklin Institute

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,...
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Acts

Tennessee - 1850 - 698 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 made. SEC. 13. If the trustees of any such company...
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Acts of the State of Ohio

Ohio - 1851 - 196 pages
...insolsolvent, or which would reduce the amount of their capital, yentthey shall jointly and severally be 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,...
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Michigan Reports: Cases Decided in the Supreme Court of Michigan, Volume 158

Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - 1910 - 858 pages
...within a certain time, for failure of which the trustees — " 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 made." Plaintiff brought suit against the warehouse...
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