2006 Utah Code - 78-12-27 — Action against corporate stockholders or directors.

     78-12-27.   Action against corporate stockholders or directors.
     Actions against directors or stockholders of a corporation to recover a penalty or forfeiture imposed, or to enforce a liability created, by law must be brought within three years after the discovery, by the aggrieved party, of the facts upon which the penalty or forfeiture attached, or the liability accrued, and in case of actions against stockholders of a bank pursuant to levy of assessment to collect their statutory liability, such actions must be brought within three years after the levy of the assessment.

No Change Since 1953

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