Section 3. Liability of Stockholders

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Liability of Stockholders

The legislature shall have power from time to time to provide for, limit and otherwise regulate the liability of stockholders or members of corporations and co-operative corporations or associations, however organized.

Liability of Stockholders

The Legislature shall have power from time to time to provide for, limit and otherwise regulate the liability of stockholders or members of corporations and co-operative corporations or associations, however organised. Provided every stockholder in a banking or trust corporation or association shall be individually liable in an amount equal to the amount of stock owned by him for all debts of such corporation contracted prior to any transfer of such stock and such individual liability shall continue for one year after any transfer of such stock and the entry thereof on the books of the corporation or association.

Liability of Stockholders

Each stockholder in any corporation, (excepting those organized for the purpose of carrying on any kind of manufacturing or mechanical business) shall be liable to the amount of stock held or owned by him.

Liability of Stockholders

Each stockholder in any Corporation shall be liable to the amount of the stock held or owned by him.

Redlined Comparison between 1873 and 1975 Amendment (includes interim changes)

Removed from 1873 Added to 1975

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