Non-Assessable
Defined in 2 dictionaries — Black's (1910), Black's (1891)
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
This word, placed upon a certificate of stock, does not cancel or impair the obligation to pay the amount due upon the shares created by the acceptance and holding of such certificate. At most its legal effect is a stipulation against liability from further assessment or taxation after the entire subscription of one hundred per cent, shall have been paid. Upton v. Tribil-cock, 91 U. S. 45, 23 In Ed. 203.
A Dictionary of Law
Henry Campbell Black · 1891
This word, placed upon a certificate of stack, does not cancel or impair the obligation to pay the amount due upon the shares created by the acceptance and holding of such certifieate, At most its the entire subscription of one hundred per cent. shall have been paid. 91 U. 8. 45,