Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
316.14 UNPAID STOCK SUBSCRIPTION.
When the property of any corporation is insufficient to pay its debts, upon application of a
creditor the court shall order the payment by each stockholder of the amount, if any, unpaid on
the shares held, or such portion thereof as may be necessary to satisfy the corporate debts, and
when necessary may direct the receiver to enforce such order by appropriate proceedings; and,
on application of a stockholder, the court may make such order as will equalize the payments
made by stockholders for their stock, and in like manner the court may enforce any liability of
directors and officers.
History: (8022) RL s 3181; 1986 c 444
When the property of any corporation is insufficient to pay its debts, upon application of a
creditor the court shall order the payment by each stockholder of the amount, if any, unpaid on
the shares held, or such portion thereof as may be necessary to satisfy the corporate debts, and
when necessary may direct the receiver to enforce such order by appropriate proceedings; and,
on application of a stockholder, the court may make such order as will equalize the payments
made by stockholders for their stock, and in like manner the court may enforce any liability of
directors and officers.
History: (8022) RL s 3181; 1986 c 444
Official Publication of the State of Minnesota
Revisor of Statutes