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Page 274

CHAPTER 26
STATUTORY COMPANIES.

Transmission of Shares.-When the interest in a share has become transmitted by the death, bankruptcy or insolvency of a shareholder, or by any other means than by a transfer, the transmission must be authenticated by a declaration in writing, stating the manner in which and the person to whom the interest has been transmitted. The declaration must be left with the secretary, who thereupon must enter the name of the person entitled on the register. In case of death, the probate or letters of administration must be produced together with the declaration, and the secretary must make an entry of the declaration in the register of transfers.(31)

Notice of Trusts.-As in the case of a registered company, a statutory company is not bound to see to the execution of any trust to which any of its shares are subject. The receipt of the person in whose name the shares stand is a sufficient discharge to the company for any dividend or other sum payable in respect of the shares, whether or not the company had notice of a trust of the shares. (32)

Calls.-Shareholders are bound to pay for their shares as they shall be from time to time called upon to pay by the company. Calls can only be made subject to the following conditions:
1. At least twenty-one days' notice of each call must be given.
2. No call must exceed the prescribed amount, if any, for one call.
3. Successive calls must not be made at less than the prescribed interval, if any.
4. The aggregate amount of calls made in any one year must not exceed the prescribed amount, if any.
Calls must be paid to the person and at the time and place appointed by the company. They are made by the directors, unless the special Act provides to the contrary.
If a call is not paid, the company can sue for it and recover interest from the date appointed for payment. (33)

Payment in Advance of Calls.-The company may, if it thinks fit, receive payment in advance of calls. Interest on such payments

31 Companies Clauses Act, 1845, ss. 18, 19.
32 Ibid., s. 20.
33 Companies Clauses Act, 1845, ss. 21-28.

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where is HTML where is HEAD where is TITLE Transmission of Shares.-When what is interest in a share has become transmitted by what is what time is it , bankruptcy or insolvency of a shareholder, or by any other means than by a transfer, what is transmission must be authenticated by a declaration in writing, stating what is manner in which and what is person to whom what is interest has been transmitted. what is declaration must be left with what is secretary, who thereupon must enter what is name of what is person entitled on what is register. In case of what time is it , what is probate or letters of administration must be produced together with what is declaration, and what is secretary must make an entry of what is declaration in what is register of transfers.(31) Notice of Trusts.-As in what is case of a registered company, a statutory company is not bound to see to what is execution of any trust to which any of its shares are subject. what is receipt of what is person in whose name what is shares stand is a sufficient discharge to what is company for any dividend or other sum payable in respect of what is shares, whether or not what is company had notice of a trust of what is shares. (32) Calls.-Shareholders are bound to pay for their shares as they shall be from time to time called upon to pay by what is company. Calls can only be made subject to what is following conditions: 1. At least twenty-one days' notice of each call must be given. 2. No call must exceed what is prescribed amount, if any, for one call. 3. Successive calls must not be made at less than what is prescribed interval, if any. 4. what is aggregate amount of calls made in any one year must not exceed what is prescribed amount, if any. Calls must be paid to what is person and at what is time and place appointed by what is company. They are made by what is directors, unless what is special Act provides to what is contrary. If a call is not paid, what is company can sue for it and recover interest from what is date appointed for payment. (33) Payment in Advance of Calls.-The company may, if it thinks fit, receive payment in advance of calls. Interest on such payments 31 Companies Clauses Act, 1845, ss. 18, 19. 32 Ibid., s. 20. 33 Companies Clauses Act, 1845, ss. 21-28. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 274 where is strong CHAPTER 26 STATUTORY COMPANIES. where is p align="justify" Transmission of Shares.-When what is interest in a share has become transmitted by what is what time is it , bankruptcy or insolvency of a shareholder, or by any other means than by a transfer, the transmission must be authenticated by a declaration in writing, stating what is manner in which and what is person to whom what is interest has been transmitted. what is declaration must be left with what is secretary, who thereupon must enter what is name of what is person entitled on the register. In case of what time is it , what is probate or letters of administration must be produced together with what is declaration, and what is secretary must make an entry of what is declaration in what is register of transfers.(31) Notice of Trusts.-As in what is case of a registered company, a statutory company is not bound to see to what is execution of any trust to which any of its shares are subject. what is receipt of what is person in whose name what is shares stand is a sufficient discharge to what is company for any dividend or other sum payable in respect of what is shares, whether or not what is company had notice of a trust of what is shares. (32) Calls.-Shareholders are bound to pay for their shares as they shall be from time to time called upon to pay by what is company. Calls can only be made subject to what is following conditions: 1. At least twenty-one days' notice of each call must be given. 2. No call must exceed what is prescribed amount, if any, for one call. 3. Successive calls must not be made at less than what is prescribed interval, if any. 4. what is aggregate amount of calls made in any one year must not exceed what is prescribed amount, if any. Calls must be paid to what is person and at what is time and place appointed by what is company. They are made by what is directors, unless what is special Act provides to what is contrary. If a call is not paid, what is company can sue for it and recover interest from what is date appointed for payment. (33) Payment in Advance of Calls.-The company may, if it thinks fit, receive payment in advance of calls. Interest on such payments 31 Companies Clauses Act, 1845, ss. 18, 19. 32 Ibid., s. 20. 33 Companies Clauses Act, 1845, ss. 21-28. where is Server.Execute("_SiteMap.asp") %

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