Section 600.2909 - Stockholders; individual liability for corporate debts; enforcement; labor debts.
REVISED JUDICATURE ACT OF 1961 (EXCERPT)
Act 236 of 1961
600.2909 Stockholders; individual liability for corporate debts; enforcement; labor debts.
Sec. 2909.
Whenever any stockholders are individually liable for the debts of a corporation the remedy for the enforcement of their liability shall be as prescribed by the court rules and not otherwise. This section does not apply to actions for labor performed when the action is brought by the person who performed the labor or his assignees.
History: 1961, Act 236, Eff. Jan. 1, 1963