Article XII

Section 18. Liability of stockholders of banks

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The legislature may provide by law that the stockholders in every corporation and joint stock association organized for banking purposes, or the holders of any one or more of the classes of stock issued by any such corporation in addition to the amount of capital stock subscribed and fully paid by them shall be individually responsible for an additional amount equal to not exceeding the amount of their stock in such corporation, or the amount of their stock of any particular class in such corporation, for all its debts and liabilities of every kind.

The stockholders in every corporation, and joint stock association for banking purposes, in addition to the amount of capital stock subscribed and fully paid by them, shall be individually responsible for an additional amount, equal to the amount of their stock in such corporation, for all its debts and liabilities of every kind.

Redlined Comparison between 1896 and 1941 Amendment

Removed from 1896 Added to 1941

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