Section 14

Section 14. If the said president and managers shall refuse or neglect to enforce the collection and payment of the instalments required of stockholders, agreeably to the seventh section of this act, the said president and managers for the time being, shall be held personally liable for any loss that may accrue to the said company from such refusal or neglect: Provided always, That if any of the said managers shall dissent from the proceedings of said board, in relation to the duties required by this section, and shall record their dissent upon the minutes of the board, and notify the Governor of such proceeding, such managers so dissenting shall be exonerated from the liabilities which would otherwise be incurred under the provisions of this section.