Legalize§ 40510. Liability
§ 40510. Liability
(a) Liability of Corporation.— The corporation is liable for the acts of its officers and agents acting within the scope of their authority.
(b) Immunity of Individuals.— A member or private individual is not liable for the obligations of the corporation.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1335.)
| Historical and Revision Notes | ||
|---|---|---|
| RevisedSection | Source (U.S. Code) | Source (Statutes at Large) |
| 40510(a) | 36:801. | Aug. 14, 1958, Pub. L. 85–642, §§ 9(a) (1st sentence words after last comma), 11, 72 Stat. 599, 600. |
| 40510(b) | 36:799(a) (1st sentence words after last comma). |
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