This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ...council on behalf of the community; which authorities shall, therefore, be entitled to inspect the books and accounts of the societies at all times. 17. The Society may be dissolved, if V3 of the body of shareholders, representing at least V2 of the capital, do so determine. A resolution to such effect shall only be ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ...council on behalf of the community; which authorities shall, therefore, be entitled to inspect the books and accounts of the societies at all times. 17. The Society may be dissolved, if V3 of the body of shareholders, representing at least V2 of the capital, do so determine. A resolution to such effect shall only be adopted at a general meeting, to be held before the expiry of the 1st half of the year; and the dissolution of the society shall not take place until the expiry of the year in which the resolution has been adopted. 18. In the event of the dissolution of the society, any surplus that may be left, after discharging all the society's obligations and after repayment to the shareholders of their capital, shall be applied in terms of 15. 19. Proposals for a change in the articles of incorporation may be submitted to the Directors by any shareholder, not later than 2 months previous to the holding of any ordinary general meeting, and shall be submitted to such meeting accompanied by the necessary explanations and conclusions based thereupon. When the Directors consider it desirable, they may also submit proposals for change in the articles of incorporation to an extraordinary general meeting of the shareholders. For the adoption of a proposal for change in the articles of incorporation, at least % of the votes given shall be necessary, as well as, that half the amount of share capital is represented by the votes of the majority. Should half the share capital not be represented a new general meeting shall be summoned, due notice being given of the proposed change in the articles of incorporation, which proposed change shall be by it discussed, and such general special meeting shall be entitled to adopt--irrespective of the nu...
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