78B-2-306 - Action against corporate stockholders or directors. - Utah Statutes

78B-2-306. Action against corporate stockholders or directors.
Actions against directors or stockholders of a corporation to recover a penalty orforfeiture imposed, or to enforce a liability created shall be brought within three years after thediscovery by the aggrieved party of the facts upon which the penalty or forfeiture attached, or theliability accrued. Actions against stockholders of a bank pursuant to levy of assessment to collecttheir statutory liability must be brought within three years after the levy of the assessment.

Renumbered and Amended by Chapter 3, 2008 General Session