Legal Question in Business Law in Florida
florida corporate law
can the officers of a subchapter S corp be held liable for a judgement against the corp?
1 Answer from Attorneys
Re: florida corporate law
That depends. A corporate entity does not always provide the personal protection that many individuals think it does. The protection is called "the corporate veil" and it can be pierced.
Also, depending on the nature of the claim, the plaintiff may be entitled to name the officers individually as defendants.
Another consideration is Florida's Fraudulent Transfer Act. It provides a remedy to a corporation's judgment creditors if the corporate officers remove assets from the corporation.
There are many issues which need to be considered, and it is a fairly complex area of the law. If you would like to chat about this further, please feel free to contact me at your convenience.
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