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Statutes > Minnesota Laws > Chapters 300 - 319B Corporations > Chapter 302A Business Corporations > Section 302A.425 Liability of Subscribers and Shareholders with Respect to Shares

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MINNESOTA STATUTES AND CODES

Section 302A.425 Liability of Subscribers and Shareholders with Respect to Shares

302A.425 LIABILITY OF SUBSCRIBERS AND SHAREHOLDERS WITH RESPECT TO SHARES.

A subscriber for shares or a shareholder of a corporation is under no obligation to the corporation or its creditors with respect to the shares subscribed for or owned, except to pay to the corporation the full consideration for which the shares are issued or to be issued.

History:

1981 c 270 s 63

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