17-1509.   Commencement of business.No corporation organized under the provisions of this act shall commencebusiness until at least twenty percent of its capital stock has been paidfor in actual cash, and a sworn statement to that effect has been filedwith the secretary of state, and his receipt for the same shall beconstrued as a permit to do business.

      History:   L. 1913, ch. 137, § 5; R.S. 1923, 17-1509.