Legal Question in Business Law in Florida

Re: corporate dissolutions

The C-corp may be dissolved with no personal liability lying with the shareholders for any outstanding debts incurred by the corporation. A director or an officer can be sued for example for an action involving fraud or negligence along with the corporation. This is why some corporations purchase director liability insurance and may indemnify a director or an officer when the officer/ director is being sued for actions taken by the officer/director on behalf of the corporation. Feel free to contact me with any additional information.