Section 16. Subsequent action against members

Where an action has been
  brought against an officer, or a  counterclaim  has  been  made,  in  an
  action  brought  by  an  officer, as prescribed in this article, another
  action, for the same cause, shall not be brought against the members  of
  the association, or any of them, until after final judgment in the first
  action,  and  the return, wholly or partly unsatisfied or unexecuted, of
  an execution issued thereupon.  After such a return, the party in  whose
  favor the execution was issued, may maintain an action, as follows:
    1.    Where  he  was  the  plaintiff, or a defendant recovering upon a
  counterclaim, he may maintain an  action  against  the  members  of  the
  association,  or, in a proper case, against any of them, as if the first
  action had not been brought, or the counterclaim had not been  made,  as
  the  case  requires; and he may recover therein, as part of his damages,
  the costs of the first action, or so much thereof, as the sum, collected
  by virtue of the execution, was insufficient to satisfy.
    2.  Where he was a defendant, and the case is not  within  subdivision
  first  of  this  section,  he may maintain an action, to recover the sum
  remaining uncollected, against the persons who composed the association,
  when the action against him was commenced, or the survivors of them.
    But this section does not affect the right of  the  person,  in  whose
  favor  the  judgment in the first action was rendered, to enforce a bond
  or undertaking, given in the course of the proceedings therein.  Section
  eleven of this chapter applies to an action brought,  as  prescribed  in
  this  section against the members of any association, which keeps a book
  for the entry of changes in the membership of the  association,  or  the
  ownership of its property; and to each book so kept.