{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1043","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1043","heading":"Liability of Shareholder or Subscriber for Stock not Paid","body":"in Full.\n\nLIABILITY OF SHAREHOLDER OR SUBSCRIBER\n\nFOR STOCK NOT PAID IN FULL\n\nA. When the whole of the consideration payable for shares of a\n\ncorporation has not been paid in, and the assets shall be\n\ninsufficient to satisfy the claims of its creditors, each holder of\n\nor subscriber for such shares shall be bound to pay on each share\n\nheld or subscribed for by him the sum necessary to complete the\n\namount of the unpaid balance of the consideration for which such\n\nshares were issued or to be issued by the corporation.\n\nB. The amounts which shall be payable as provided in subsection\n\nA of this section may be recovered as provided for in Section 124 of\n\nthis act, after a writ of execution against the corporation has been\n\nreturned unsatisfied as provided for in that section.\n\nC. Any person becoming an assignee or transferee of shares or\n\nof a subscription for shares in good faith and without knowledge or\n\nnotice that the full consideration therefor has not been paid shall\n\nnot be personally liable for any unpaid portion of such\n\nconsideration, but the transferor shall remain liable therefor.\n\nD. No person holding shares in any corporation as collateral\n\nsecurity shall be personally liable as a shareholder but the person\n\npledging such shares shall be considered the holder thereof and\n\nshall be so liable. No executor, administrator, guardian, trustee\n\nor other fiduciary shall be personally liable as a shareholder, but\n\nthe estate or funds held by such executor, administrator, guardian,\n\ntrustee or other fiduciary in such fiduciary capacity shall be\n\nliable.\n\nE. No liability under the provisions of this section or under\n\nthe provisions of Section 124 of this act shall be asserted more\n\nthan six (6) years after the issuance of the stock or the date of\n\nthe subscription upon which the assessment is sought.\n\nF. In any action by a receiver or trustee of an insolvent\n\ncorporation or by a judgment creditor to obtain an assessment under\n\nthe provisions of this section, any shareholder or subscriber for\n\nstock of the insolvent corporation may appear and contest the claim\n\nor claims of such receiver or trustee.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"da8c85c27252e32d31d7abeee334f960efe1dc5090aa84baa2d93906c4f016c0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1042","next":"us-ok/okla.-stat.-tit.-18-18-1044"},"notice":"GroundRules: Original legal text. Not legal advice."}