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2017 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Part 6 - SHARES AND DISTRIBUTIONS
Section 30-29-622 - LIABILITY OF SHAREHOLDERS.
Universal Citation: ID Code § 30-29-622 (2017)
30-29-622. liability of shareholders. (1) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued as provided in section 30-29-621, Idaho Code, or specified in the subscription agreement as provided in section 30-29-620, Idaho Code.
(2) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.
History:
[30-29-622, added 2015, ch. 243, sec. 61, p. 912.]
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