2017 Colorado Revised Statutes
Title 7 - Corporations and Associations
Corporations
Article 51 - Joint Stock Religious or Benevolent Associations
§ 7-51-109. Liability of stockholders

Universal Citation: CO Rev Stat § 7-51-109 (2017)

Each stockholder shall be liable for the debts of the corporation to the extent of the amount unpaid upon the stock held by the stockholder, to be collected in the manner provided in this section. If any action is brought to recover any indebtedness against the corporation, it shall be competent to proceed against any one or more of the stockholders at the same time, to the extent of the balance unpaid by such stockholders upon the stock owned by them respectively, as in cases of garnishment.

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