Joint Resolution No. 33 of 1877

Article XV

Sec. 7: The stockholders of in all corporations and joint stock associations shall be individually liable in an amount equal to the par value of their respective shares which they own or have owned in such corporations or associations for all labor performed for done in behalf of such corporation or joint stock association during the time of their being such stockholders.

Sources

• Joint Resolution No. 33 of 1877 (PDF)
• Michigan Official Directory and Legislative Manual, 1909-1910, p. 554 (HathiTrust)
• Public Acts and Joint and Concurrent Resolutions of the Legislature of the State of Michigan Passed at the Regular Session of 1877, p. 301 (HathiTrust)