EXPLANATION OF THE TABLES.
Y INDICATES YES: N, NO, OR NONE.
1. In a few States corporations can be formed
only for certain specified purposes. This is
indicated. In Massachusetts the provisions
for business corporations only are given.
2. In many cases where a limited term only is
allowed the existence of the corporation may
be renewed.
3. P means that no number is given in the stat-
ute, but the plural number being used two
incorporators would probably be required.
6. The negative is stated (as required by the
common-law) unless there is an express pro-
vision otherwise.
7. The affirmative is stated (as permitted by the common-law) unless there is an express provision otherwise.
Columns 9-10. A means that the amount must be fixed by the Articles of Incorporation.
E means that the percentage must be paid in upon each share of stock.
11. Y means that the statutes contemplate issu-
ing stock for property or services.
B means that property or services may be ac-
cepted in payment for stock at a rate fixed
by the directors, and that the stock so is-
sued is for all purposes fully paid-up stock
in the hands of an innocent purchaser.
A blank means that there is no statutory pro-
vision on the subject.