Legal Question in Business Law in Florida
Is a share holder that is cutting ties with a company responsible for any debt the company may have?
Asked on 1/20/12, 12:50 pm
1 Answer from Attorneys
Normally, if the person is only a shareholder of the company, and has no other responsibilities or obligations, then they never have any responsibility for debt.
If they held a position with the company or has signed papers obligating themselves personally, then it is possible on certain circumstances, but not necessarily.
To be sure, consult with an attorney.
Answered on 1/20/12, 1:03 pm
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