2004 Minnesota Statutes

     300.18 Capital stock of consolidated corporation. 

    The capital stock of a consolidated corporation, issued and 
 represented by shares of stock, is the amount stated in the 
 consolidation agreement as to the amount of capital stock with 
 which the consolidated corporation will begin business, until 
 the corporation issues shares.  When additional shares are 
 issued, the capital stock issued and represented by shares of 
 stock is increased by the aggregate par value of all additional 
 shares of stock having par value and the aggregate amount of 
 money or the actual value of the consideration, as fixed by the 
 directors, or otherwise, received by the corporation for the 
 issuance of all additional shares without par value.  

    HIST: (7457-17) 1927 c 385 s 6; 1984 c 628 art 5 s 1