New Jersey § 14a:5-30
Full text of New Jersey New Jersey Statutes § 14a:5-30, with citation guidance and answers to common questions.
§ 14a:5-30.
(1) A holder of or subscriber for shares of a corporation shall be under no obligation
to the corporation or its creditors to pay for such shares other than the obligation
to pay to the corporation the unpaid portion of the consideration for which such shares
were issued or to be issued, which in no event shall be less than the amount of the
consideration for which such shares could be lawfully issued. (2) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation
is not personally liable for the acts of the corporation, except that a shareholder
may become personally liable by the reason of his own acts or conduct. (3) A person holding stock in a fiduciary or representative capacity shall not be personally
liable to the corporation as the holder of or subscriber for shares of a corporation
but the estate and funds in his hands shall be so liable. (4) Any person becoming an assignee or transferee of shares or of a subscription for
shares in good faith and without knowledge or notice that the full consideration therefor
has not been paid shall not be liable to the corporation or its creditors for any
unpaid portion of such consideration, but the original holder or subscriber and any
assignee or transferee prior to an assignment or transfer to a person taking in good
faith and without such knowledge or notice shall remain liable therefor. (5) No pledgee or other holder of shares as collateral security shall be liable as a
shareholder.
Frequently Asked Questions About New Jersey § 14a:5-30
What does New Jersey Statutes § 14a:5-30 cover?
Section 14a:5-30 is part of the New Jersey Statutes, the codified statutory law of New Jersey. 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 New Jersey § 14a:5-30?
A common citation format is "New Jersey Statutes § 14a:5-30" (New Jersey). 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 New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 14a:5-30 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey 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 New Jersey.