Each stockholder of any corporation formed under the provisions of this act, shall be held individually liable to the creditors of such corporation to an amount not exceeding the amount unpaid on the stock held by him, for any and all debts and liabilities of such corporation, until the whole amount of the capital stock of such corporation so held by him shall have been paid.
610 ILCS 5/16
Known as the Railroad Incorporation Act
The act spans §§ 610-5-0-01 to 610-5-9 (31 sections).
Laws 1871, p. 625.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.