3784

(a) When the officers, directors or stockholders of any corporation shall be liable by the provisions of this subtitle, to pay the debts of the corporation, or any part thereof, any person to whom they are liable may initiate an action against any one (1) or more of them. The complaint shall state the claim against the corporation, and the ground on which the plaintiff expects to charge the defendants personally.\n(b) No suit shall be brought against any officer, director or stockholder for any debt of a corporation of which such person is an officer, director or stockholder, until judgment be obtained therefor against the corporation and execution thereon returned unsatisfied nor after three (3) years from the date of such judgment, and any officer, director or stockholder may raise any defense which the corporation could have raised against such debt or liabilities. This subsection shall not apply to suits brought against the officers or directors of a corporation which is in the process of dissolution for mismanagement in the performance of their duties in accordance with Chapter 229 of this subtitle.\nHistory —Dec. 16, 2009, No. 164, § 12.04.