West Virginia Statutes
§ 31D-6-622 — Liability of shareholders
(a)A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued pursuant to section six hundred twenty-one of this article or specified in the subscription agreement entered pursuant to section six hundred twenty of this article.
(b)Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that he or she may become personally liable by reason of his or her own acts or conduct.
Free access — add to your briefcase to read the full text and ask questions with AI
West Virginia § 31D-6-622 (Liability of shareholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 31D-1-101
Short title§ 31D-1-101a
Legislative acknowledgment§ 31D-1-102
Reservation of powers§ 31D-1-103
Construction of chapter§ 31D-1-120
Filing requirements§ 31D-1-121
Forms§ 31D-1-122
Filing, service and copying fees§ 31D-1-123
Effective time and date of document§ 31D-1-124
Correcting filed document§ 31D-1-125
Filing duty of Secretary of State§ 31D-1-127
Evidentiary effect of copy of filed document§ 31D-1-128
Certificate of existence§ 31D-1-129
Penalty for signing false document§ 31D-1-130
Powers