Delaware Code Title 8 Sec. 165 – Revocability of preincorporation subscriptions
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Unless otherwise provided by the terms of the subscription, a subscription for stock of a corporation to be formed shall be irrevocable, except with the consent of all other subscribers or the corporation, for a period of 6 months from its date.
8 Del. C. 1953, § ?165; 56 Del. Laws, c. 50.;
Terms Used In Delaware Code Title 8 Sec. 165
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.