Newton's Estate

Citations

• 46 Pa. Super. 40
• 1911 Pa. Super. LEXIS 225

Syllabus

<p>Corporations — Stock—Subscription—Statute of limitations.</p> <p>An action must be brought against a stockholder of an insolvent corporation on a subscription for unpaid capital stock within six years of the insolvency of the company. Otherwise it will be barred by the statute of limitations. The right of action arises upon the insolvency, and not upon an assessment or call made after the insolvency has fixed the rights of all parties concerned. In such a case the lex fori and not the law of the domicile of the corporation controls.</p>