Provisions
VIII.7 of 1895 • Individual responsibility of stockholders.
APPROVED
The Text
The stockholders of every corporation and joint-stock association for banking purposes shall be individually responsible to the amount of their respective share or shares of stock in any such corporation or association, for all its debts and liabilities of every kind.
A Few Facts
• Joined the Constitution in 1895
• In Article VIII: Corporations and Charities
• Has 41 words
• Was proposed by the Constitutional Convention
• Went to NYS voters as proposed amendment 1 of 1894
• Changed the text of a previously existing provision
• Amends or builds on:
◦ 1847-VIII.7
Credits
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