Code of Alabama - Title 6: Civil Practice - Section 6-6-414 - Unpaid subscription of stock

Section 6-6-414 - Unpaid subscription of stock.

Any creditor of a corporation may, by garnishment, subject the unpaid subscription of any stockholder in such corporation to the payment of its debts, without regard to whether the corporation can commence an action against the stockholder for such subscription or not.

(Code 1852, §2472; Code 1867, §2893; Code 1876, §3220; Code 1886, §2972; Code 1896, §2182; Code 1907, §4311; Code 1923, §8062; Code 1940, T. 7, §1006.)

Last modified: May 3, 2021