Delaware Code Title 8 Sec. 326 – Action by officer, director or stockholder against corporation for …
Current as of: 2023 | Check for updates
|
Other versions
When any officer, director or stockholder shall pay any debt of a corporation for which such person is made liable by the provisions of this chapter, such person may recover the amount so paid in an action against the corporation for money paid for its use, and in such action only the property of the corporation shall be liable to be taken, and not the property of any stockholder.
8 Del. C. 1953, § ?326; 56 Del. Laws, c. 50; 71 Del. Laws, c. 339, § ?72;
Terms Used In Delaware Code Title 8 Sec. 326
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.