§ 18-431. Liability of directors.

If the indebtedness of such corporation shall at any time exceed the amount of its subscribed capital stock and surplus the directors assenting thereto shall be personally and individually liable for such excess to the creditors.  Except any indebtedness created in favor of the State warehouse revolving fund.

Laws 1919, c. 147, p. 231, § 11; Laws 1923, c. 167, p. 270, § 4.