Stock Recovery. Conditions Precedent

No action can be sustained to recover stock sold for delinquent unpaid subscription upon the ground of irregularity or defect in the calls for such unpaid subscription, or irregularity or defect in the notice of delinquency and sale, or in the sale itself of stock for unpaid subscription, unless the party seeking to maintain such action first pays or tenders to the party holding the stock the sum for which the same was sold, together with all subsequent calls which may have been paid upon the stock so sold, with interest from the date of payment at the rate of seven (7) percentum, and no such action shall be maintained unless it is commenced by the filing of a complaint and the issuance of summons within six (6) months from date of sale. SOURCE: CC § 338.