Mackinac Center Legal Foundation

Cases | Amicus Briefs | Our Issues | Publications | Accomplishments | Donate |

Michigan Constitutional Archive
Michigan Constitution of 1963 / Removed

Joint Resolution No. 11 of 1859

November 6, 1860; Approved 59,954 to 15,477 (79%)

Article XV

Sec. 3: The officers and stockholders of every corporation or association for banking purposes, issuing bank notes or paper credits, to circulate as money, shall be individually liable for all debts contracted during the time term of their being officers or stockholders of such corporation or association, equally and ratably to the extent of their respective shares of stock in any such corporation or association.

Sources

  • Acts of the Legislature of the State of Michigan Passed at the Regular Session of 1859, pp. 1100–1101 (HathiTrust)
  • Michigan Official Directory and Legislative Manual, 1909-1910, p. 552 (HathiTrust)

Mackinac Center for Public Policy

Donate | About | Blog | Pressroom | Publications | Careers | Site Map | Email Signup | Contact

Facebook X YouTube Instagram Overton Window Podcast TikTok

(989) 631-0900 | 140 W. Main Street Midland, MI 48640 P.O. Box 568 | mcpp@mackinac.org | © 2025 Mackinac Center for Public Policy