A railroad corporation shall not issue stocks or bonds except for money, labor done or in good faith agreed to be done, or property actually received. Any fictitious increase of stock or indebtedness shall be void.
Miss. Code Ann. § 77-9-191
Fictitious stock is void
Codes, 1892, § 3600; 1906, § 4102; Hemingway’s 1917, § 6731; 1930, § 6100; 1942, § 7752.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.