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C-44 - Gas, Water and Electricity Companies Act

Section 50
Disposition versions

Full text
50. The name of every subscriber for any new or additional stock, so authorized to be subscribed for in any such company, shall be forthwith entered as that of a stockholder in the register of stockholders of the company, with the date of subscription and number of shares subscribed for.
Thereupon such stockholder shall become liable to the company for the payment of the full amount subscribed, in such instalments and at such times as the directors may be authorized to call the same in.
Such stockholder shall be subject to all the conditions, restrictions and liabilities, and entitled to all the rights, privileges, benefits and advantages to which the original stockholders were subject or entitled.
R. S. 1964, c. 285, s. 50.
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