Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
316.17 ENFORCEMENT OF STOCKHOLDERS' LIABILITY; HEARING; NOTICE OF.
When it shall be made to appear by the petition of a receiver or assignee of a corporation,
or of any creditor thereof whose claim has been filed, that any constitutional, statutory, or other
liability of stockholders or directors, or both, exists, and that it is necessary to resort to the same,
the court shall appoint a time for hearing, not less than 30 nor more than 60 days thereafter, and
order such notice thereof to be served on each person against whom such liability is claimed in
the same manner a summons is served in a civil action, and said notice shall also be published as
the court shall order. Such notice shall specify, in a general way, the nature of the liability claimed
in the petition and the amount thereof against the person upon whom it is so served. When the
receiver is not the petitioner, personal notice shall be given to the receiver.
History: (8025) RL s 3184; 1925 c 273 s 1; 1986 c 444
When it shall be made to appear by the petition of a receiver or assignee of a corporation,
or of any creditor thereof whose claim has been filed, that any constitutional, statutory, or other
liability of stockholders or directors, or both, exists, and that it is necessary to resort to the same,
the court shall appoint a time for hearing, not less than 30 nor more than 60 days thereafter, and
order such notice thereof to be served on each person against whom such liability is claimed in
the same manner a summons is served in a civil action, and said notice shall also be published as
the court shall order. Such notice shall specify, in a general way, the nature of the liability claimed
in the petition and the amount thereof against the person upon whom it is so served. When the
receiver is not the petitioner, personal notice shall be given to the receiver.
History: (8025) RL s 3184; 1925 c 273 s 1; 1986 c 444
Official Publication of the State of Minnesota
Revisor of Statutes