{"data":{"id":"us-mi/mich.-comp.-laws-600.3625","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 600.3625","heading":"Debt; enforcement of payment; stock subscriptions; determination of liability.","body":"Sec. 3625.\n\nIn all cases in which the directors or other officers of a corporation, or the stockholders thereof, are parties to the action in which judgment is rendered, if the property of such corporation is insufficient to discharge its debts, the court shall proceed to compel each stockholder to pay in the amount due and remaining unpaid on the shares of the stock held by him, or so much thereof as is necessary to satisfy the debts of the company.\n\nIf the debts of the company remain unsatisfied, the court shall proceed to ascertain the respective liabilities of the directors or other officers, and of the stockholders, and to adjudge the amount payable by each.","path":["MI Code","Chapter 600","Act Act-236-of-1961"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-600-3625","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"84d7444c2dc1bb647892cd0aeaeb1e8dc19cb87cedb2c5fac975d6fd99d864ee","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-600.3620","next":"us-mi/mich.-comp.-laws-600.3630"},"notice":"GroundRules: Original legal text. Not legal advice."}