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Indiana Corporate Legal Questions

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1 legal question has been posted about corporate law by real users in Indiana. Ask your question and dive into the knowledge of attorneys who handle your issue regularly. Similar topics to explore also include corporate litigation, corporate taxation, and corporate governance. All topics and other states can be accessed in the dropdowns below.
Indiana Corporate Questions & Legal Answers
Do you have any Indiana Corporate questions and need some legal advice or guidance? Ask a Lawyer to get an answer or read through our 1 previously answered Indiana Corporate questions.
Corporate Law
Indiana

Recent Legal Answers

Owner closing business and walking away

Answered 4 years and 10 months ago by attorney Bruce Robins   |   1 Answer
Bruce Robins
You state that the company is incorporated.  Why then would any of the owners be responsible for any of its outstanding bills?  Have any of you signed personal guarantees?  As long as you operated the corporation properly, for example not commingling corporate money with personal, not paying personal expenses from coprorate funds, etc., the shareholders are not generally liable for the corporation's debts.  If, however, the debtrs you write about are among the few statutory exceptions to this rule, or that the corporation was not operated properly allowing personal liability of itss hareholders, you can't, at this point, protect yourself from the obligation (absent filing bankruptcy), you can only sue the third shareholder for his share of the obligation.... Read Answer
You state that the company is incorporated.  Why then would any of the owners be responsible for any of its outstanding bills?  Have any of... Read Answer

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