Nebraska Statutes 75-149. Consolidation; securities; issuance; limitation
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The capital stock of a corporation formed by the merger or consolidation of two or more other corporations, shall not exceed the sum of the capital stock of the corporations so merged or consolidated at par value thereof, or such sum and any additional sum actually paid in cash; nor shall any contract, or consolidation or lease be capitalized in the stock of any corporation whatsoever; nor after October 19, 1963, shall any corporation issue any bonds against or as a lien upon any contract for consolidation or merger.
Terms Used In Nebraska Statutes 75-149
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.