Mississippi § 77-9-153 - Increasing capital stock; issuing preferred stock to satisfy obligations.
Full text of Mississippi Mississippi Code of 1972 Annotated § 77-9-153 — Increasing capital stock; issuing preferred stock to satisfy obligations., with citation guidance and answers to common questions.
§ 77-9-153. Increasing capital stock; issuing preferred stock to satisfy obligations.
To increase, from time to time, its capital stock, but never to exceed the amounts actually expended by the railroad company in constructions, completions, equipments, and additions to its railroad and property; a stockholder shall not be liable for the debts of the corporation beyond the sum due for unpaid subscriptions. To issue preferred stock and fix the face value of each share at such amount as shall be determined by the board of directors, for the purpose of satisfying, paying and retiring the outstanding bonds, notes, secured or unsecured, or any other evidence of obligations of any kind or character, which obligations have been or shall be incurred by the railroad corporation.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 77-9-153
What does Mississippi Code of 1972 Annotated § 77-9-153 cover?
Section 77-9-153 ("Increasing capital stock; issuing preferred stock to satisfy obligations.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 77-9-153?
A common citation format is "Mississippi Code of 1972 Annotated § 77-9-153" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 77-9-153 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.