The capital stock to be named in the certificate aforesaid shall in no case be greater than the amount of the capital stock specified in the original charter of the railroad so sold and any amendment or amendments thereto. Nothing herein contained, however, shall be construed to prevent an increase of capital stock to such additional amount as may be needed to convert any bonds or other indebtedness of the original corporation into stock and the corporation so formed may divide its capital stock into common and preferred stock upon such terms and with such conditions as may be prescribed.
HISTORY: 1962 Code Section 58-905; 1952 Code Section 58-905; 1942 Code Section 8276; 1932 Code Section 8221; Civ. C. '22 Section 4785; Civ. C. '12 Section 3116; Civ. C. '02 Section 2042; G. S. 1420; R. S. 1610; 1881 (17) 793; 1889 (20) 377.
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