Each shareholder must have a certificate issued. The shareholding certificate on the share certificate will display the following:
|➤ Name of the company which owns the shares|
|➤ The number of shares in the enterprise it represents|
|➤ The number of shares held|
|➤ If the shares are not completely paid, the sum payable for each share|
|➤ Name of the shareholder or statement of the bearer 's certificate|
Section 1133 notes that the transferee remains responsible for the entire amount outstanding on the shareholding of any stock not completely paid up. Remember that once the transfer is complete, no transferor can be held responsible for the unpaid shareholding. If the new owner were unable to settle the unpaid shares, this will end in court. Once this transfer has been noted in the company’s shareholding after 2 years, the transferor can not be held accountable for the unpaid shares. When buying or selling unpaid stock in a company, it is often better to speak to a lawyer about their consequences as a shareholder and a corporation after the transfer of shares and change company shareholder.