Sec. 6.45. Expenses of organization, reorganization, and financing.
61 words·~1 min read·
/il/chapter-805/act-5/6-45A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 6.45. Expenses of organization, reorganization, and financing. The reasonable charges and expenses of organization or reorganization of a corporation and reasonable compensation for the sale or underwriting of its shares, may be paid or allowed by such corporation out of the consideration received by it in payment for its shares without thereby rendering such shares not full paid and non-assessable.