Colorado § 7-51-109 Liability of stockholders

Colorado Statutes

§ 7-51-109 — Liability of stockholders

Colorado § 7-51-109

Title 07Corporations

Art.Joint Stock Religious or Benevolent Associations

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Bluebook

Colo. Rev. Stat. § 7-51-109 (2026).

Text

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.

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.