Minnesota § 316.21 ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES

Minnesota Statutes

§ 316.21 — ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES

Minnesota § 316.21

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 316CORPORATIONS; ACTIONS RESPECTING

This text of Minnesota § 316.21 (ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 316.21 (2026).

Text

When, at any time after an assessment for an amount less than the maximum stockholder's liability has been levied, it shall appear, by petition or otherwise, and after hearing, as hereinbefore provided, that by reason of the insolvency of stockholders, or for any other cause, it is necessary, or for the interest of creditors, that a further assessment be levied, the court shall order the same for such amount, proportion or percentage as it may deem proper; and, in the same manner and with like effect, at any time thereafter may levy additional assessments, not exceeding in the aggregate the maximum stockholder's liability. When two or more assessments shall have been levied, the assignee or receiver may recover therefor in a single action, or, unless otherwise directed, may maintain a sepa

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When, at any time after an assessment for an amount less than the maximum stockholder's liability has been levied, it shall appear, by petition or otherwise, and after hearing, as hereinbefore provided, that by reason of the insolvency of stockholders, or for any other cause, it is necessary, or for the interest of creditors, that a further assessment be levied, the court shall order the same for such amount, proportion or percentage as it may deem proper; and, in the same manner and with like effect, at any time thereafter may levy additional assessments, not exceeding in the aggregate the maximum stockholder's liability. When two or more assessments shall have been levied, the assignee or receiver may recover therefor in a single action, or, unless otherwise directed, may maintain a separate action against each stockholder for each successive assessment.