Indiana Code 23-17-7-6. Liability for acts or debts of corporation
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Terms Used In Indiana Code 23-17-7-6
- 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.
Sec. 6. A member of a corporation is not personally liable for the acts or debts of the corporation. However, the member may become personally liable because of the member’s own acts or conduct.
As added by P.L.179-1991, SEC.1.