Powers as to stock. Such corporation shall have power, in its certificate of incorporation or in its bylaws, to provide that its shares of stock may be issued in series; to limit the number of shares which each stockholder may be allowed to hold; to prescribe the entrance fee to be paid by each stockholder at the time of subscribing; and to regulate the instalments to be paid on each share and the times at which they shall be payable. It shall also have power to enforce the payment of all installments and other dues by such fines and forfeitures as its bylaws may from time to time provide. (Mar. 3, 1901, 31 Stat. 1299, ch. 854, § 689.) Prior Codifications 1981 Ed., § 26-502. 1973 Ed., § 26-402.
District of Columbia Legal Code