493.5 Liability of holder.
63 words·~1 min read·
/ia/chapter-493-stock-without-par-value/493-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any and all shares without par value issued for the consideration as prescribed or fixed in section 493.4 shall be deemed fully paid and nonassessable and the holder of such shares shall not be liable to the corporation or to its creditors in respect thereto.
[C31, 35, §8419-c5; C39, §8419.05; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §493.5]