Jurisdiction to Sell Delinquent Shares

From and after the publication of the notices of delinquency and sale of stock for unpaid subscriptions, the corporation acquires jurisdiction to sell and convey all of the stock described in the notices of sale, but the corporation must sell no more of the stock mentioned in the notices than is necessary to pay the amount of the subscription due, with interest accrued, and the expenses of advertising and the costs of sale. COL021307 CH. 3 CORPORATE S TOCK