No corporation organized under the laws of this state, except building and loan associations, shall issue any certificate of a share of capital stock, or any substitute therefor, until the corporation has received the par value thereof.
[S13, § 1641-b; C24, 27, 31, 35, 39, § 8412; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 492.5]
Referred to in § 492.10-492.12, 495.1
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