(a) Liability of Corporation.—The corporation is liable for the acts of its officers and agents acting within the scope of their authority.

Terms Used In 36 USC 40510

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8

(b) Immunity of Individuals.—A member or private individual is not liable for the obligations of the corporation.

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