351.280. When execution may be levied against shareholders.
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/mo/chapter-351/351-280A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
351.280. When execution may be levied against shareholders. — If any execution shall have been issued against any corporation, and there cannot be found any property or effects whereon to levy the same, then such execution may be issued against any of the shareholders to the extent of the amount of the unpaid balance of such shares by him or her owned; provided, always, that no execution shall issue against any shareholder except upon an order of the court in which the action, suit or other proceedings shall have been brought or instituted, made upon motion in open court, after sufficient notice, in writing, to the person sought to be charged; and, upon such motion, such court may order execution to issue accordingly; and provided further, that no shareholder shall be individually liable in any amount over and above the amount of shares owned.
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(RSMo 1939 § 5048, A.L. 1943 p. 410 § 15)
Prior revisions: 1929 § 4572; 1919 § 9764; 1909 § 3004