Statute 78 230

1. No person holding shares in any corporation as collateral security shall be personally liable as a stockholder. 2. No executor, administrator, guardian or trustee, unless he or she, without authorization, shall have voluntarily invested the trust funds in such shares, shall be personally liable as a stockholder, but the estate and funds in the hands of such executor, administrator, guardian or trustee shall be liable. [16:177:1925; NCL § 1615]