- A holder of or subscriber for a share is bound to pay any unpaid balance of the issue or subscription price if the other assets of the corporation are insufficient to satisfy the claims of its creditors.
- The amounts payable under (a) may be recovered as provided in § 325, after a writ of execution against the corporation has been returned unsatisfied as provided in said § 325.
- “Any person becoming an assignee or transferee of shares or of a subscription for shares in good faith and without knowledge or notice that the full consideration therefor has not been paid shall not be personally liable for any unpaid portion of such consideration, but the transferor shall remain liable therefor.”
- Liability as a stockholder does not fall onto any person holding shares as collateral security or as a fiduciary, but it does fall onto the person pledging such shares or the funds held in such fiduciary capacity, respectively.
- “No liability under this section or under § 325 shall be asserted more than 6 years after the issuance of the stock or the date of the subscription upon which the assessment is sought.”
- “In any action by a receiver or trustee of an insolvent corporation or by a judgment creditor to obtain an assessment under this section, any stockholder or subscriber for stock of the insolvent corporation may appear and contest the claim or claims of such receiver or trustee.”