Delaware Code Title 8 Sec. 171 – Special purpose reserves
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The directors of a corporation may set apart out of any of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.
8 Del. C. 1953, § ?171; 56 Del. Laws, c. 50.;
Terms Used In Delaware Code Title 8 Sec. 171
- 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.