The Laws of Texas, 1822-1897 Volume 7 Page: 75
1 volume (multiple pagings); 25 cm.View a full description of this book.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
Laws of the State of Texas.
73
general law of the State, shall keep its principal office within this
State.
Sec. 34. No misnomer of any corporation shall defeat or vitiate
any gift, grant, conveyance, devise or bequest to the same.
Sec. 35. Any corporation may convey lands by deed, sealed
with the common seal of the corporation, and signed by the president
or the presiding member or trustee of said corporation; and
such deed, when acknowledged by such officer to be the act of the
corporation, or proved in the manner prescribed for other conveyances
of lands, may be recorded in like manner and with the same
effect as other deeds.
Sec. 36. The records of any company incorporated under the
provisions of any statute of this State, or copies thereof duly
authenticated by the signature of the president and secretary of
such company, under the corporate seal thereof, shall be competent
evidence in any action or proceeding to which such corporation
may be a party.
Article V.-Dissolution of Corporations.
Sec. 37. A corporation is dissolved: first, by the expiration of
the time limited in its charter; second, by a judgment of dissolution
rendered by a court of competent jurisdiction.
Sec. 38. Every corporation created under this act or any general
law of this State, shall commence active operations within
three years after filing its charter with the Secretary of State, and
in default thereof said corporation shall be dissolved and its charter
become void.
Sec. 39. Upon the dissolution of any corporation already
created by or under the laws of this State, unless a receiver is appointed
by some court of competent authority, the president and
directors or managers of the affairs of the corporation at the time
of its dissolution, by whatever name they may be known in law,
shall be trustees of the creditors and stockholders of such corporation,
with full power to settle the affairs, collect the outstanding
debts, and divide the moneys and other property among the stockholders,
after paying the debts due and owing by such corporation
at the time of its dissolution as far as such money and property
will enable them; and for this purpose they may maintain or defend
any judicial proceeding.
Sec. 40. The trustees mentioned in the last section shall be
severally responsible to the creditors and stockholders of such corporation
to the extent of its property and effects that shall have
come into their hands.(75)
Upcoming Pages
Here’s what’s next.
Search Inside
This book can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Book.
Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1822-1897 Volume 7, book, 1898; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth6732/m1/77/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .