Offshore Banking with a Swiss Bank Account and Nevis LLC

Consideration 34. (1) Consideration for the issue of shares shall consist of
for shares. money or other property, tangible or intangible, or labor or
services actually received by or performed for the
corporation or for its benefit or in its formation or
reorganization, or a combination thereof. In the absence of
fraud in the transaction, the judgment of the board of
directors or shareholders, as the case may be, as to the
value of the consideration received for shares shall be
conclusive.
(2) Shares with par value may be issued for such
consideration, not less than the par value thereof, as is fixed
from time to time by the board.
(3) Shares without par value may be issued for such
consideration as is fixed from time to time by the board
unless the articles of incorporation reserve to the
shareholders the right to fix the consideration. If such right
is reserved as to any shares, a vote of the shareholders shall
either fix the consideration to be received for the shares or
authorize the board to fix such consideration.
(4) Treasury shares may be disposed of by a
corporation on such terms and conditions as are fixed from
time to time by the board.
(5) That part of the surplus of a corporation which is
transferred to stated capital upon the issuance of shares as a
share dividend shall be deemed to be the consideration for
the issuance of such shares.