Delaware Code
Subchapter III. Conduct of Internal Corporate Affairs
§ 1534. Par value of capital stock; payment for and issuance thereof; increase and reduction in such stock.

The capital stock shall be divided into shares of a stated par value. No business shall be transacted by the corporation until the whole amount of its capital stock is subscribed for and actually paid in cash. No stock shall be issued by any corporation until the par value thereof shall be fully paid in cash. Any corporation may, subject to the approval of the State Bank Commissioner, increase or reduce its capital stock in the manner hereinafter provided.

Structure Delaware Code