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Section 70. Effect of Delinquency - Revised Corporation Code

Section 70. Effect of Delinquency of Revised Corporation Code. Section 70. Effect of Delinquency. - No delinquent stock shall be voted for, be entitled to vote, or be represented at any stockholder's meeting,

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Revised Corporation Code

Section 70. Effect of Delinquency. - No delinquent stock shall be voted for, be entitled to vote, or be represented at any stockholder's meeting, nor shall the holder thereof be entitled to any of the rights of a stockholder except the right to dividends in accordance with the provisions of this Code, until and unless payment is made by the holder of such delinquent stock for the amount due on the distribution with accrued interest, and the costs and expenses of advertisement, if any.

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