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30.0156 Extent of liability.

Cite as [A.S.C.A. § 30.0156]

Nothing in this chapter or in the articles of incorporation exempts the stockholders from individual liability to the amount of the unpaid installments on the stock owned by them, or transferred by them for the purpose of defrauding creditors; and execution against the company may, to that extent, be levied upon the private property of any such individual.

History: 1962, PL 7-20.