A Comparative Study of the Law of Corporations With Particular Reference to the
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Of June 22nd, 1896, relating to Stock Exchanges {Borsengesetz), sec. 39.
* Staub, op. Cit. , i, p. 934.
8o THE LAW OF CORPORATIONS [342 3. Members of the supervising council or directorate who, for the purpose of entering in the commercial registry an in- crease in the capital stock, knowingly make false statements ih respect of the payment of the stock already issued, or of the subscription or payment of the increased stock, or in respect of the amount at which the shares are issued, or in res...pect of payments upon the increased stock made otherwise than in money. ^ In addition to the penalties already mentioned, managers and directors may incur the loss of civil rights. If, however, there be extenuating circumstances, sentence may be confined to the imposition of a fine.^ Under the general provisions of the Criminal Code, the length of im- prisonment may vary from one day to five years. ^ Members of the directorate or supervising council are punishable with imprisonment not exceeding one year and also by fine not exceeding twenty thousand marks, if they have know^ingly issued nominative shares, partly paid up, not mentioning the amount actually paid thereon ; or issued shares or interim certificates before the company has been registered in the commercial registry; or issued shares or interim certificates of less than one thousand marks par value, as provided by law.
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To quickly assess the difficulty of the text, read a short excerpt:
Of June 22nd, 1896, relating to Stock Exchanges {Borsengesetz), sec. 39.
* Staub, op. Cit. , i, p. 934.
8o THE LAW OF CORPORATIONS [342 3. Members of the supervising council or directorate who, for the purpose of entering in the commercial registry an in- crease in the capital stock, knowingly make false statements ih respect of the payment of the stock already issued, or of the subscription or payment of the increased stock, or in respect of the amount at which the shares are issued, or in res...pect of payments upon the increased stock made otherwise than in money. ^ In addition to the penalties already mentioned, managers and directors may incur the loss of civil rights. If, however, there be extenuating circumstances, sentence may be confined to the imposition of a fine.^ Under the general provisions of the Criminal Code, the length of im- prisonment may vary from one day to five years. ^ Members of the directorate or supervising council are punishable with imprisonment not exceeding one year and also by fine not exceeding twenty thousand marks, if they have know^ingly issued nominative shares, partly paid up, not mentioning the amount actually paid thereon ; or issued shares or interim certificates before the company has been registered in the commercial registry; or issued shares or interim certificates of less than one thousand marks par value, as provided by law.
What to read after A Comparative Study of the Law of Corporations With Particular Reference to the?
You can find similar books in the "Read Also" column, or choose other free books by Arthur Kline Kuhn to read onlineMoreLess
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