Japanese Commercial Law: Containing the Law of Bankruptcy, of Partnerships and Companies and of Bills of Exchange, Notes and Checks in a Systematic Form
Japanese Commercial Law: Containing the Law of Bankruptcy, of Partnerships and Companies and of Bills of Exchange, Notes and Checks in a Systematic Form
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1895 Excerpt: ...a resolution for the dissolution of the company, at least half of the stockholders in number and value must be present. If a quorum is not present, the same rules apply as in the case of a limited partnership. Generally each stockholder has one vote in the meeting for each share held by him, but the by-laws may ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1895 Excerpt: ...a resolution for the dissolution of the company, at least half of the stockholders in number and value must be present. If a quorum is not present, the same rules apply as in the case of a limited partnership. Generally each stockholder has one vote in the meeting for each share held by him, but the by-laws may restrict the voting power of holders of more than ten shares. Provisions in the by-laws of companies established under the former law which impose other restrictions on the right to vote remain in force. 35. Eights And Duties Of The Stockholders. The rights and duties of the stockholders, kabunushi $fc, are determined first by the law, and subject to this by the by-laws of the company. I. The duties of the stockholders. A stockholder is bound to promptly pay the amount of the shares subscribed for by him. The manner and time of payment are fixed by the by-laws. A demand of payment must be made upon each stockholder at least two weeks before the time fixed for payment, mentioning the legal consequences of default in payment. A stockholder who fails to pay promptly is charged with interest at the rate provided in the by-laws, and also with any expenses caused by his delay. By a second demand a farther time of not less than two weeks may be limited for payment, after which the company, having previously notified the delinquent stockholder of their intention to do so, may sell his shares at public sale. If the proceeds are not sufficient to cover the amount due from him, including interest and expenses, he remains liable for the deficiency. On the other hand, he is entitled to any excess of the proceeds over the amount payable. The by-laws may also impose penalties for delay in making payments on shares. II. The rights of the stockholders. ...
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