Minnesota § 316.19 - ENFORCEMENT OF STOCKHOLDERS' LIABILITY; HEARING; ORDER
Full text of Minnesota Minnesota Statutes § 316.19 — ENFORCEMENT OF STOCKHOLDERS' LIABILITY; HEARING; ORDER, with citation guidance and answers to common questions.
§ 316.19. ENFORCEMENT OF STOCKHOLDERS' LIABILITY; HEARING; ORDER
Such order shall authorize and direct the assignee or receiver to collect the amount so assessed, and, on failure of any one liable to such assessment to pay the same within the time prescribed, to prosecute an action against the nonpayer, whether resident or nonresident, and wherever found. Such order shall be conclusive as to all matters relating to the amount, propriety, and necessity of the assessment, against such parties as shall have been served with notice of the receiver's petition for assessment, as provided in section 316.17, except that the defense of ultra vires set forth in section 316.18 may be interposed by any stockholder in any suit for any such assessment and if maintained shall diminish the liability of such stockholder in the proportion that the liabilities determined to be ultra vires shall bear to the total liabilities of such corporation.
History:
(8027) RL s 3186; 1925 c 272; 1931 c 205 s 1; 1986 c 444
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 316.19
What does Minnesota Statutes § 316.19 cover?
Section 316.19 ("ENFORCEMENT OF STOCKHOLDERS' LIABILITY; HEARING; ORDER") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 316.19?
A common citation format is "Minnesota Statutes § 316.19" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 316.19 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.