PROCEEDINGS IN CIVIL ACTIONS IN COURTS OF RECORD
LIMITATION OF ACTIONS
5-237. Actions against directors and stockholders. This chapter does not affect actions against directors or stockholders of a corporation to recover a penalty or forfeiture imposed, or to enforce a liability created by law; but such actions must be brought within three (3) years after the discovery by the aggrieved party of the facts upon which the penalty or forfeiture attached, or the liability was created.
[(5-237) C.C.P. 1881, sec. 177; R.S., R.C., & C.L., sec. 4077; C.S., sec. 6630; I.C.A., sec. 5-237.]