QUESTION

If an individual owns a corporation and they have personal outstanding debt & they are check signers on the corporations bank accounts can they seize.

Asked on May 02nd, 2012 on Corporate Law - Michigan
More details to this question:
The money from any bank accounts
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1 ANSWER

Assuming that the corporation is functioning as a completely separate entity from the individual who owes the debt, the debt holder cannot seize the corporations bank accounts.  If you are having collections actions brought against you, you should contact a local consumer rights attorney to discuss how best to protect both your corporation and your individual assets. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Aug 09th, 2012 at 12:37 PM

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