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CHARTERED COMPANIES ACT 1837 - SECT 24

Effect of judgments against officers, &c. of company.

24. All judgments, decrees, interlocutors, and orders obtained in any such
actions, suits, or other proceedings as aforesaid against such officer or
member in manner aforesaid, whether such member or officer respectively be
party to such actions, suits, or proceedings as plaintiff, pursuer,
petitioner, or defendant or defender, shall have the same effect against the
property and effects of such company or body, and also (to the extent
herein-after mentioned) against the persons, property, and effects of the
individual existing or former members thereof respectively, as if such
judgments, decrees, interlocutors, or orders had been obtained against such
company or body in suits or proceedings to which all the persons liable as
existing or former members of such company or body had been parties; and
execution or diligence, or executions or diligences, shall be issued thereon
accordingly: Provided nevertheless, that where the extent per share of the
liability of the individual members shall have been limited by any letters
patent as aforesaid, no such execution or diligence shall be issued against
any such individual existing and former member of such company or body as
aforesaid for a greater sum than the residue, if any, of the amount for which,
by virtue of such letters patent as aforesaid, such individual member shall be
liable in respect of the share or shares then or theretofore held by him in
the said company or body after deducting therefrom the amount, if any, which
shall appear by such register as aforesaid to have been advanced and paid in
respect of such shares or any of them by himself or herself, or any previous
or subsequent holder of the same shares or any of them, or the representatives
of any such holder, under or by virtue of any former execution or diligence,
and not repaid at the time of issuing such subsequent execution or diligence.

© 1837 Crown Copyright

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