If any stock or bonds of any corporation be fraudulently issued for property at more than the cash value, or if a reduction of capital be made in the guise of a loan to stockholders, the directors of the corporation shall be jointly and severally liable to the creditors of the corporation for any loss or damage arising therefrom.
Liability for watered stocks and bonds and loans to stockholders
13 V.I.C. § 74 — under General Corporation Law.
13 V.I.C. § 74