New Jersey Statutes
§ 34:17-16 — Contribution by stockholder
New Jersey·Title 34 LABOR AND WORKMEN'S COMPENSATION
When the whole capital of such society has not been paid in, and its assets are insufficient for the payment of its debts, liabilities and obligations, each stockholder shall be bound to pay on each share held by him the sum necessary to complete the amount of such share, as fixed in the certificate of association, or such proportion as shall be required to satisfy such debts, liabilities and obligations. No such contribution shall be required from any person after the expiration of one year from the time he has ceased to be a member, or for any debt, liability or obligation contracted after he has ceased to be a member of such society.
Free access — add to your briefcase to read the full text and ask questions with AI
New Jersey § 34:17-16 (Contribution by stockholder) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 34:17-1
Purposes§ 34:17-10
Member entitled to one vote§ 34:17-11
Holding interest in other society§ 34:17-12
Annual report§ 34:17-13
Inspection of books§ 34:17-14
Distribution of profits; sinking fund§ 34:17-15
Transfer of shares§ 34:17-16
Contribution by stockholder§ 34:17-17
Reincorporation under chapter§ 34:17-18
Dissolution§ 34:17-2
Certificate of association; contents§ 34:17-4
First meeting§ 34:17-6
By-laws