610 ILCS 5/21

Current through Public Act 103-1052
Section 610 ILCS 5/21 - Restrictions on issuance of stock - stock dividends void

No such corporation shall issue any stock or bonds, except for money, labor or property actually received and applied to the purposes for which such corporation was organized. All stock dividends, and other fictitious increase of the capital stock or indebtedness of any such corporation, shall be void.

610 ILCS 5/21

Laws 1871, p. 625.