NON-ASSESSMENT OF STOCK. The capital stock of the Corporation, after the amount of the subscription price has been paid in money, property or services, as the directors shall determine, shall not be subject to assessment to pay the debts of the Corporation, nor for any other purpose, and no stock issued as fully paid shall ever be assessable or assessed, and the Articles shall not be amended in this particular. No stockholder of the Corporation is individually liable for the debts or liabilities of the Corporation. ARTICLE III
Appears in 6 contracts
Samples: Distribution Agreement (LTC Healthcare Inc), Distribution Agreement (LTC Healthcare Inc), Distribution Agreement (LTC Healthcare Inc)
NON-ASSESSMENT OF STOCK. The capital stock of the Corporation, after the amount of the subscription price has been paid in money, property or services, as the directors shall determinefully paid, shall not be subject to assessment to pay the debts of the Corporation, nor assessable for any other purpose, and no stock issued as fully paid shall ever be assessable or assessed, and the Articles shall not be amended in this particular. No stockholder of the Corporation is individually liable for the debts or liabilities of the Corporation. ARTICLE III.
Appears in 2 contracts
Samples: Merger Agreement (Innovative Consumer Products, Inc.), Merger Agreement (Capital City Energy Group, Inc.)
