Delaware Code Title 8 Sec. 153 – Consideration for stock
(a) Shares of stock with par value may be issued for such consideration, having a value not less than the par value of the shares so issued, as determined from time to time in accordance with § 152 of this title, or by the stockholders if the certificate of incorporation so provides.
Terms Used In Delaware Code Title 8 Sec. 153
- certificate of incorporation: as used in this chapter , unless the context requires otherwise, includes not only the original certificate of incorporation filed to create a corporation but also all other certificates, agreements of merger or consolidation, plans of reorganization, or other instruments, howsoever designated, which are filed pursuant to § 102, §§ 133-136, § 151, §§ 241-243, § 245, §§ 251-258, §§ 263-264, § 267, § 303, §§ 311-313, or any other section of this title, and which have the effect of amending or supplementing in some respect a corporation's certificate of incorporation. See Delaware Code Title 8 Sec. 104
- 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.
(b) Shares of stock without par value may be issued for such consideration as is determined from time to time in accordance with § 152 of this title, or by the stockholders if the certificate of incorporation so provides.
(c) Treasury shares may be disposed of by the corporation in the same manner that shares of stock are issued pursuant to § 152 of this title, or may be disposed of for such consideration as determined by the stockholders if the certificate of incorporation so provides.
(d) If the certificate of incorporation reserves to the stockholders the right to determine the consideration for the issue of any shares, the stockholders shall, unless the certificate requires a greater vote, do so by a vote of a majority of the outstanding stock entitled to vote thereon.
8 Del. C. 1953, § ?153; 56 Del. Laws, c. 50; 57 Del. Laws, c. 148, § ?10; 83 Del. Laws, c. 377, § 4;