Corporations, Associations, and Partnerships

Business Corporations – Officers, Directors, and Stockholders

SECTION 7-4-15

§ 7-4-15. Rights and liabilities surviving death of officer, director, or stockholder.

Except as otherwise provided in the general corporation law, any right of action against any officer, director, or stockholder of a corporation arising from any liability or penalty created or imposed by the provisions of the general corporation law survives the death of the person; and the right of contribution provided by this chapter exists in favor of the estate of the officer, director, or stockholder.

History of Section.
(P.L. 1920, ch. 1925, § 46; G.L. 1923, ch. 248, § 46; G.L. 1938, ch. 116, § 46; G.L. 1956, § 7-4-15.)