Miss. Code § 79-1-13

Current through the 2024 Regular Session

Section 79-1-13 - Property and franchise of corporation salable under judgment

When judgment shall be rendered against any corporation, all its property, real and personal, and its franchise shall be liable to be seized and sold in satisfaction thereof; and the sale shall vest the title to the franchise in the purchaser, with all privileges and immunities; and the officer making the sale shall immediately put him in possession; and the purchaser may recover any penalties imposed for injuries to the franchise, and shall also discharge all the duties imposed by the charter on the corporate body, and be liable to like penalties as the original stockholders which may accrue after his purchase of the franchise.

Codes, 1857, ch. 35, art. 10; 1871, § 2414; 1880, § 1038; 1892, § 845; 1906, § 910; Hemingway's 1917, § 4082; 1930, § 4158; 1942, § 5337.