491.22 - INDIVIDUAL PROPERTY LIABLE.
491.22 INDIVIDUAL PROPERTY LIABLE. A failure to substantially comply with the foregoing requirements in relation to organization and publicity shall render the individual property of the stockholders liable for the corporate debts; but corporators and stockholders in railway and street railway companies shall be liable only for the amount of stock held by them therein.
Section History: Early Form [C51, § 689; R60, § 1166, 1338; C73, § 1068; C97, § 1616; C24, 27, 31, 35, 39, § 8362; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 491.22]