Minnesota § 316.21 - ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES
Full text of Minnesota Minnesota Statutes § 316.21 — ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES, with citation guidance and answers to common questions.
§ 316.21. ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES
When, at any time after an assessment for an amount less than the maximum stockholder's liability has been levied, it shall appear, by petition or otherwise, and after hearing, as hereinbefore provided, that by reason of the insolvency of stockholders, or for any other cause, it is necessary, or for the interest of creditors, that a further assessment be levied, the court shall order the same for such amount, proportion or percentage as it may deem proper; and, in the same manner and with like effect, at any time thereafter may levy additional assessments, not exceeding in the aggregate the maximum stockholder's liability. When two or more assessments shall have been levied, the assignee or receiver may recover therefor in a single action, or, unless otherwise directed, may maintain a separate action against each stockholder for each successive assessment.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 316.21
What does Minnesota Statutes § 316.21 cover?
Section 316.21 ("ADDITIONAL ASSESSMENTS, HOW LEVIED; JOINDER OF CAUSES") 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 § 316.21?
A common citation format is "Minnesota Statutes § 316.21" (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 § 316.21 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.