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17-608.

History: G.S. 1868, ch. 23, § 23; R.S. 1923, 17-608; Repealed, L. 1939, ch. 152, § 154; June 30.

Source or Prior Law:

L. 1866, ch. 57, § 10.

CASE ANNOTATIONS

1. Directors may dispose of unsubscribed capital stock. C.K.& W. Rld. Co. v. Comm'rs of Stafford Co., 36 Kan. 121, 129, 12 P. 593.

2. Bylaws cannot require election by directors before stock transfer registered; bylaws cannot authorize corporation to purchase its own stock; exception. Steele v. Telephone Association, 95 Kan. 580, 582, 588, 148 P. 661.

3. Failure of directors to function constitutes mismanagement justifying appointment of receiver. Jordan v. Austin Securities Co., 142 Kan. 631, 650, 652, 51 P.2d 38.

4. Directors' duty to collect indebtedness due for purchase of corporation stock; statute of limitations runs in director's favor on indebtedness due corporation, when. Guilfoyle v. Brown, 149 Kan. 615, 617, 619, 88 P.2d 1082.

5. Directors, not stockholders, have general management of corporation. Geiman-Herthel Furniture Co. v. Geiman, 160 Kan. 346, 352, 354, 161 P.2d 504.


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