3582

The price of subscription or purchase of the corporate capital stock to be issued by a corporation, as determined in subsections (a) and (b) of § 3583 of this title shall be paid in such form and manner as determined by the board of directors. The board of directors may authorize the payment of capital stock issue in cash, with any tangible or intangible property or any other benefit for the corporation or a combination thereof. In the absence of actual fraud in the transaction, the judgment of the directors as to the appraisal of the price shall be conclusive. The corporate capital stock issued in this manner shall be declared and deemed fully paid and shall not be subject to subsequent obligations once the corporation has received the agreed price; Provided, however, That nothing stated herein shall prevent the board of directors from issuing partially-paid shares under the provisions of § 3587 of this title.\nHistory —Dec. 16, 2009, No. 164, § 5.02.