17:12B-252. Liability of stockholders
53 words·~1 min read·
/nj/title-17/chapter-12b/17-12b-252A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Stockholders, after their stock has been fully paid, are not liable to creditors or for assessments upon their stock. Stock shall be considered fully paid when the consideration for the issuance of any shares of capital stock has been paid, in whole, in cash.
L.1974, c. 137, s. 23, eff. Oct. 23, 1974.