Colorado § 7-51-109 Liability of stockholders

Colorado Statutes

§ 7-51-109 — Liability of stockholders

Colorado·Title 07 Corporations·Art. Joint Stock Religious or Benevolent Associations

Each stockholder shall be liable for the
debts of the corporation to the extent of the amount unpaid upon the stock held by
the stockholder, to be collected in the manner provided in this section. If any action
is brought to recover any indebtedness against the corporation, it shall be
competent to proceed against any one or more of the stockholders at the same
time, to the extent of the balance unpaid by such stockholders upon the stock
owned by them respectively, as in cases of garnishment.

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Each stockholder shall be liable for the
debts of the corporation to the extent of the amount unpaid upon the stock held by
the stockholder, to be collected in the manner provided in this section. If any action
is brought to recover any indebtedness against the corporation, it shall be
competent to proceed against any one or more of the stockholders at the same
time, to the extent of the balance unpaid by such stockholders upon the stock
owned by them respectively, as in cases of garnishment.

Colorado § 7-51-109 (Liability of stockholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 1879: p. 36, � 9. G.S. � 392. R.S. 08: � 1042. C.L. � 2408. CSA: C. 41, � 205. CRS 53: � 31-22-9. C.R.S. 1963: � 31-21-9. L. 2004: Entire section amended, p. 1406, � 23, effective July 1.