THE CORPORATION: OPERATION

Question 1

Corporation is a

Answer 1

person and entity

Question 2

MBCA (2016) § 6.22(b).

Answer 2

Liability of Shareholders.A shareholder of a corporation is not personally liable for any liabilities of the corporation (including liabilities arising from 192acts of the corporation) except * * * that a shareholder may become personally liable by reason of the shareholder’s own acts or conduct

Question 3

Delaware § 102(b)(6)

Answer 3

Certificate of Incorporation—contents.[T]he stockholders of a corporation shall not be personally liable for the payment of the corporation’s debts except as they may be liable by reason of their own conduct or acts.