Promoters

In English Law. Those who, in popular or penal actions, prosecute in their own names and the king's, having part of the fines and penalties. In Modern Corporation Law. Those persons who manage the incorporation of a company, issuing prospectuses, procuring the stock subscriptions, organizing, etc. Any one who actively assists in doing this, whether as a business or in a single instance, is a promoter. 1 Fletcher Cyclopedia Corporations 264.

In the law relating to corporations, those persons are called the "promoters" of a company who first associate themselves together for the purpose of organizing the company, issuing its prospectus, procuring subscriptions to the stock, securing a charter, etc. See Dickerman v. Northern Trust Co., 176 U. S. 181, 20 Sup. Ct. 311, 44 L. Ed. 423; Bosher v. Richmond & EL Land Co., 89 Va. 455, 16 S. B. 360, 37 Am. St. Rep. 879; Yale Gas Stove Co. v. Wilcox, 64 Conn. 101, 29 AH. 308, 25 L. R. A. 90, 42 Am. St. Rep. 159; Densmore Oil Co. v. Densmore, 64 Pa. 49.

In English practice. Those persons who, In popular and penal actions, prosecute offenders in their own names and that of the king, and are thereby entitled to part of the fines and penalties for their pains, are called "promoters." Brown. The term is also applied to a party who puts in motion an ecclesiastical tribunal, for the purpose of correcting the manners of any person who has violated the laws ecclesiastical ; and one who takes such a course is said to "promote the office of the judge." See Mozley & Whitley.

1. Common informers, penal actions. 2. The members of poration or charter.