The Pamphlet Collection of Sir Robert Stout: Volume 88
Shares
Shares.
7. Noperson shall be deemed to have accepted
any share in the Company unless he shall have signified his acceptance of the same by his
signature in such manner as the Directors may appoint, or, being an original applicant for such share, he shall have signed a written or printed application for the same, and the same shall have been allotted to him by or on behalf of the Company, or being a transferee of any share he has testified his acceptance thereof by writing under his hand in such form as the Company from time to time directs. The Directors shall have power to allot the first one hundred thousand shares in such manner and to such persons as they may think fit. Unless otherwise determined by the Company in general meeting, the remaining one hundred thousand shares shall be held for allotment from time to time and in such number and for such persons as may insure with the Company, and in such proportion to the insurance premiums paid by them, under and subject to such regulations as the Directors may from time to time determine.
Shares. Definition to shareholder, and power to Directors to issue shares.
Capital and calls, how payable.
9. If, however, an emergency arise, which in
the opinion of the Directors should make it expedient that a call or calls should be made upon the Shareholders, the Directors may make such call or calls at such time or times and in such manner as they shall think fit, without it being necessary to refer the matter to a general meeting of the Company.
Calls on emergency.
10. If before or on the day appointed for pay-
ment any Shareholder does not pay the amount of any call to which he is liable, then such Shareholder shall pay interest for the same at the rate of fifteen pounds per centum per annum from the day appointed for the payment thereof to the time of the actual payment.
Calls, interest on overdue.
11. The Directors may, if they think fit, re-
ceive from any of the Shareholders willing to advance the same, all or any part of the monies due upon the respective shares beyond the sums actually called for; and upon the monies so paid in advance, or so much thereof as from time to time exceeds the amount of the calls then made upon the shares in respect of which such advance has been made, the Directors may pay interest at such rate as the Shareholder paying such sum or sums in advance and the Directors may agree upon.
Calls paid in advance, and interest thereon.