Kentucky Statutes 271B.2-040 – Liability for preincorporation transactions
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All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under this chapter, shall be jointly and severally liable for all liabilities created while so acting.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 18, effective January 1, 1989.
Effective: January 1, 1989
Terms Used In Kentucky Statutes 271B.2-040
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
History: Created 1988 Ky. Acts ch. 23, sec. 18, effective January 1, 1989.