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.
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.
Structure Colorado Code
Title 7 - Corporations and Associations
Article 51 - Joint Stock Religious or Benevolent Associations
§ 7-51-102. Affidavit of Chairperson - Where Filed - Effect
§ 7-51-104. Property Vests in Corporation
§ 7-51-105. Powers of Corporation
§ 7-51-107. Board of Directors
§ 7-51-108. Election of Directors
§ 7-51-109. Liability of Stockholders
§ 7-51-110. Certificate of Full Paid Stock
§ 7-51-111. Purchase of Property