N.D. Cent. Code § 6-03-23
This is the official text of N.D. Cent. Code § 6-03-23, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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6-03-23. Capital stock may be increased
Official statutory text
6-03-23. Capital stock may be increased
Any association may provide, either by its articles of incorporation, by subsequent
resolution, or by written agreement of the holders of a majority of its stock, for an increase in its
capital stock from time to time subject to the limitations of this title. No increase in capital stock
is valid until the whole amount has been paid in, in cash, and such payment certified under oath
by the president or cashier of the association to the secretary of state, nor until the secretary of
state executes a certificate specifying that this chapter has been complied with, the amount of
the increase in capital stock, and that the increase has been paid in as part of the capital of the
association, nor until a copy of such certificate has been filed with the state banking board.
Any association may provide, either by its articles of incorporation, by subsequent
resolution, or by written agreement of the holders of a majority of its stock, for an increase in its
capital stock from time to time subject to the limitations of this title. No increase in capital stock
is valid until the whole amount has been paid in, in cash, and such payment certified under oath
by the president or cashier of the association to the secretary of state, nor until the secretary of
state executes a certificate specifying that this chapter has been complied with, the amount of
the increase in capital stock, and that the increase has been paid in as part of the capital of the
association, nor until a copy of such certificate has been filed with the state banking board.
Status: in_force · Read it on the official government site
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