§31-14-3. Authorized capital stock; description of shares;
consideration for sale of shares.
The agreement of incorporation shall set forth the total
amount of authorized capital stock, the number of shares in which
it is divided, the par value of each of such shares and the amount
of capital stock with which it will commence business and, if there
be more than one class of stock, the total number of shares of all
classes of stock which the corporation shall have authority to
issue, with a description of the different classes and all other
information with respect thereto required by section six, article
one of this chapter. No corporation organized hereunder shall sell
its shares for any consideration other than money.