New Hampshire § 296:42 Contribution

New Hampshire Statutes

§ 296:42 — Contribution

New Hampshire § 296:42

Title XXVIICORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS

Ch. 296DIVIDEND-PAYING CORPORATIONS

SubdivisionIndividual Liability of Stockholders and Officers

This text of New Hampshire § 296:42 (Contribution) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 296:42 (2026).

Text

Any stockholder who has voluntarily paid a debt or liability of a corporation, after demand for payment thereof, which he was legally holden to pay, may have contribution by a bill in equity against the other stockholders for such sum as he ought equitably to recover; but no director, officer or stockholder who advised or consented to any act in violation of the provisions of this subdivision shall recover against any stockholder who did not advise or consent thereto.

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Any stockholder who has voluntarily paid a debt or liability of a corporation, after demand for payment thereof, which he was legally holden to pay, may have contribution by a bill in equity against the other stockholders for such sum as he ought equitably to recover; but no director, officer or stockholder who advised or consented to any act in violation of the provisions of this subdivision shall recover against any stockholder who did not advise or consent thereto.