Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
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: (8029) RL s 3188
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: (8029) RL s 3188
Official Publication of the State of Minnesota
Revisor of Statutes