Persons holding stock as executors, administrators, guardians, or trustees, shall not be personally subject to any liabilities as stockholders; but the estates and funds in their hands shall be liable in like manner and to the same extent as the testator, intestate, ward, or person interested in such trust funds would be, if living and competent to act and hold the stock in his own name.

Terms Used In 12 USC 66

  • Intestate: Dying without leaving a will.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Testator: A male person who leaves a will at death.
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