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https://www.upcounsel.com/personal-liability-of-corporate-officers#:~:text=%20Personal%20Liability%20of%20Corporate%20Officers%20%201,for%20a%20corporation%20is%20its%20limited...%20More%20
https://www.upcounsel.com/personal-liability-of-corporate-officers
Personal Liability of Corporate Officers Personal Liability. One of the most important benefits of establishing a business as a corporation is to protect the... Independent Entity. A corporation serves as an independent legal entity, formed under state law, and existing separately... Limited ...
https://corporations.uslegal.com/officer-and-director-liability/
Decisions made by officers and directors of corporations typically have not subjected these individuals to personal liability. Even if an officer or director makes what turns out to be a bad business decision, the law does not render the person liable unless that decision violates a specific duty imposed on the officer or director. On the other hand, the law governing …
https://corpgov.law.harvard.edu/2021/02/21/recent-trends-in-officer-liability/
AmerisourceBergan Corp., in the context of resolving a books and records demand seeking “senior management materials,” the Court of Chancery expanded on officer liability, reiterating the longstanding principle that officers are “corporate fiduciaries” who “owe the same duties to the corporation and its stockholders as directors.” The court further explained that …
https://www.cga.ct.gov/2002/rpt/2002-R-0704.htm
PERSONAL LIABILITY OF DIRECTORS AND OFFICER FOR BREACHING DUTY TO CORPORATION OR SHAREHOLDERS. The law requires that corporate directors and officers carry out their duties to their corporation in certain ways or they may be personally liable to shareholders or to the corporation itself.
https://www.michigan.gov/taxes/coll-audit/collections/corporate-officer-liability-frequently-asked-questions
Corporate Officer Liability (COL) refers to holding an individual (an officer, member, partner etc.,) of a corporation personally liable for unpaid tax debts accrued by a corporation. When a corporation fails to file returns or pay taxes due, the Michigan Department of Treasury, Office of Collections, will attempt to collect the debt from any individual who the Department has …
https://www.archindy.org/finance/files/incorporation/Liability%20Issues%20for%20Officers%20and%20Directors.pdf
Officers and directors of a corporation may be subject to personal liability for acts performed as an officer or director. These liabilities can be divided into two types--liabilities for which the corporation may indemnify the officer or director and those for …
https://cowiemott.com/personal-liability-of-corporate-officers-and-llc-members-in-maryland/
Although merely being a officer or shareholder of a corporation does not make one personally liable for the actions of the corporation, when a corporate officer directly engages and participates in negligent conduct on behalf of a legal entity which results in injury or monetary damage to others, that officer can be held personally liable in a tort action along with the …
https://www.upcounsel.com/corporate-legal-liability
Corporate legal liability covers the following: Fraud claims where an employee of the company has been accused of wrongdoing, violations like water contamination, and... Contracts and obligations entered on behalf of the corporation by employees, officers, or corporate directors. Contracts entered ...
https://www.noglaw.com/suing-corporate-officers-employees-personally-misconduct/
As discussed in a previous post, when a corporate entity fails to follow corporate formalities and its shareholders mingle personal and corporate funds, the shareholders may be personally liable under the concept known as “piercing the corporate veil.” There is an additional exception to the protections against individual liability – an officer or employee can be sued …
https://www.stimmel-law.com/en/articles/corporate-officers-duties-and-fiduciary-responsibilities
The Three Basic Types of Fiduciary Duties. Most states, including California, maintain three basic fiduciary duties. 1) Duty of Care – directors and officers must use care and be diligent when making decisions on behalf of the corporation and its shareholders (who are the true owners of the corporation). Directors and officers meet their duty ...
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