legal capital

An amount equal to the aggregate “par” or stated value of all outstanding shares of a corporation, or, in the case of stock without par value, an amount set by the board of directors.

• A minority of states require this amount to remain in the corporation to protect creditors.

— Also termed stated capital. [Cases: Corporations 60. C.J.S. Corporations §§ 122–125.]

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词条贡献者

译者Lorna，毕业于国内一流的法学院，擅长翻译各种与商业秘密相关的法律文件。