When the property of any corporation is insufficient to pay its debts, upon application of a creditor the court shall order the payment by each stockholder of the amount, if any, unpaid on the shares held, or such portion thereof as may be necessary to satisfy the corporate debts, and when necessary may direct the receiver to enforce such order by appropriate proceedings; and, on application of a stockholder, the court may make such order as will equalize the payments made by stockholders for their stock, and in like manner the court may enforce any liability of directors and officers.
(8022) RL s 3181; 1986 c 444
Structure Minnesota Statutes
Chapters 300 - 323A — Business, Social, And Charitable Organizations
Chapter 316 — Corporations; Actions Respecting
Section 316.01 — Mode Of Prosecution.
Section 316.02 — Mandatory And Restraining Orders.
Section 316.03 — Power Of Court Over Corporation Officers.
Section 316.04 — Appeal, Effect.
Section 316.05 — Sequestration; Receiver; Distribution.
Section 316.06 — Forfeiture Of Rights; Dissolution.
Section 316.07 — Dissolution On Petition Of Corporation.
Section 316.08 — Hearing; Notice.
Section 316.09 — Certified Copy Of Order Filed.
Section 316.10 — State Interested, Proceedings.
Section 316.11 — Receiver, Appointment, Duties.
Section 316.12 — Insolvent Banks And Insurance Companies.
Section 316.13 — Forfeiture Of Charter; Receiver; Suit By Creditor.
Section 316.14 — Unpaid Stock Subscription.
Section 316.15 — Order Limiting Time To Present Claims; Extension.
Section 316.16 — Notice Of Hearing.
Section 316.17 — Enforcement Of Stockholders' Liability; Hearing; Notice Of.
Section 316.18 — Hearing; Evidence; Order For Assessment.
Section 316.19 — Enforcement Of Stockholders' Liability; Hearing; Order.
Section 316.20 — Action For Assessments.
Section 316.21 — Additional Assessments, How Levied; Joinder Of Causes.
Section 316.22 — Proceedings On Failure Of Assignee Or Receiver To Prosecute.