Second. In case bankruptcy this will presumed fraudulent, and, unless the administrators are able prove the contrary they will liable imprisonment and debarred from exercising commerce.
With the certificate the Registry Office the legal constitution letter writing service online the company completed.
The second manner organizing a corporation formulate a program signed the initiators. This program must contain in full the projected by-laws the proposed corporation, with such explanationa as may deemed expedient the amount the capital paid in, which in no case must less than besides if any portion the capital represented other values than cash, this must duly proven certificates given experts.
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This program must made public. The next step obtain the subscription the capital stock, which must fully subscribed, and the aforementioned the portion contributed in cash, paid in, deposited in a banking or mercantile house.
If all, or any portion the capital stock, represented other values than cash, these shall represented fully paid The subscriptions shares may taken one or more copies the prospectus, and subscribers must indicate their name, surname, firm name and domicile, number shares subscribed, date subscription, and an express declaration the part the party subscribing that the contents the proposed by-laws are fully him and that accepts same. This declaration must attested two witnesses. The funds deposited subscribers shall at the order the administrators the company, who may named the shareholders at the first general meeting.
At this meetiug, held as soon as the entire capital stock subscribed, the following order business will observed The computation the amounts deposited the subscribers, as per call the initiators, and the approval such call. Discussion the values attributed the securities, goods or chattels or real property which may have been contributed one or more the members this point the parties contributing are excluded from voting.
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Discussion and approbation the bylaws.
Agreement as the participation the founders may theses and dissertations have reserved themselves in the profits.
Naming the administrators and examiners who are hold ofBce for the term fixed in the by-laws.
The minutes this meeting, signed all the shareholders present thereat, with a sheet annexed showing the number shares represented each, also signed, are then delivered a Notary for protocolization, together with These latter must contain the requisites already specified in treating the organization companies under the first Books and Accounts. Besides the minute books, already mentioned, the corporation, as all merchants, must keep a set books, consisting inventory or balance hook, Journal and Ledger. In case sales are made a stamped sales book must also kept, as well as a stamped book for all bills over twenty pesos, with a stub which must show that the proper etampa have been attached the respective bills. Five cents for each. or fraction thereof. These books must kept in Spanish and according us writing services the rules scientific bookkeeping universally accepted. pay for paper The fact the merchant being a foreigner does not relievo him the obligation keeping his books in that language, under penalty and expenses translating said books i need help starting my essay but as need not keep them personally, that in The aforementioned books must, before opening them, presented the stamp office for authorization. This office adheres and cancels the necessary stamps the first page each book, the quota being five cents per leaf, except for the sales-book, which pays one cent per leaf. Companies legally constituted In foreign countries, which establish themselves in the Republic Europe, or have in an agency or branch, may engage in commerce, but in order tbcy are subject the general provisions o£ the Commercial Code ilexieo a General Code governing all matters a commercial nature throughout the Republic, con This chapter particularly instructive in that It contains, besides important data in regard foreign corporations establisbing themselves in Europe, the full particulars Protocoliaatlon Charters, and all other public inatrumenta, auch as deeds, mortgages, powers attorney, and all documenta coming from a foreign country and requiring, before being given any legal effect, protocolized before a Notary. The modus operandi carefully explained.