TITLE XXVII CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS
CHAPTER 296 DIVIDEND-PAYING CORPORATIONS
Capitalizing Surplus
Section 296:16
296:16 Conditions. –
For this surplus the corporation may increase its capital stock within the limits provided by law; but no stock representing undivided surplus profits shall be authorized to be issued at less than par, nor until a certified copy of the vote authorizing the same, and a certificate as hereinafter provided, shall have been recorded in the office of the clerk of the town in which its principal place of business is located and in the office of the secretary of state.