No person holding stock in any such corporation as executor, administrator, guardian or trustee, and no person holding such stock as collateral security, shall be personally subject to any liability as stockholders of such corporation; but the person pledging the stock shall be considered as holding the same, and shall be liable as a stockholder accordingly.
610 ILCS 5/15.5
Known as the Railroad Incorporation Act
The act spans §§ 610-5-0-01 to 610-5-9 (31 sections).
P.A. 87-895.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.