Legal Question in Criminal Law in Kentucky
I am a member of a nonprofit organization. And my organization borrow money from a bank. I was one of the person who sign on the loan with other person in the organization name. By signing who is responsible for the loan. Me are organization.
1 Answer from Attorneys
It would depend on exactly what the documents said where you signed them. Many banks want one or more people to guarantee the debt of a non-profit (particularly if it is not well-established).
If you signed as "John Doe, President of Nonprofit, Inc." then there is a good argument that you were only signing for the nonprofit. If you signed as "John Doe, as President of Nonprofit, Inc. and individually," then you likely have personal responsibility.
In the vast majority of cases, it should take any lawyer familiar with this area only a couple of minutes to let you know where you stand. Of course, there are situation in which the capacity in which you signed (as officer of nonprofit, individually, or both) may not be clearly ascertainable from the review of the document.
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