69-14-504. Payment for stock in installments. An installment of 10% on each share of stock shall be paid at the time of making the subscription, and the residue thereof shall be paid in installments not exceeding 25% on the capital stock. These installments shall not be called for more frequently than once in 3 months and shall be payable at the principal office of the corporation to such persons as may be required by the directors.

     History: En. Sec. 5, p. 93, Ex. L. 1873; re-en. Sec. 303, 5th Div. Rev. Stat. 1879; re-en. Sec. 681, 5th Div. Comp. Stat. 1887; amd. Sec. 891, Civ. C. 1895; re-en. Sec. 4272, Rev. C. 1907; re-en. Sec. 6504, R.C.M. 1921; re-en. Sec. 6504, R.C.M. 1935; R.C.M. 1947, 72-202(part).