§ 3-419. Liability of stockholders, officers, and directors in voluntary or involuntary dissolution

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(a) Liability in general. -- The voluntary or involuntary dissolution of a corporation does not relieve its stockholders, directors, or officers from any obligation or liability imposed on them by law.

(b) Defenses of stockholder. -- At any time before final ratification of the auditor's account distributing the assets of the corporation among its creditors and stockholders, any stockholder of a corporation dissolved by the order of a court may plead on behalf of the corporation all defenses, including limitations or laches, in the same manner as could the corporation or its receiver.

HISTORY: An. Code 1957, art. 23, § 82; 1975, ch. 311, § 2.

                    
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