"Interest Holder Liability"

Checkout our iOS App for a better way to browser and research.

Sec. 16. "Interest holder liability" means:

(1) personal liability for a liability of an entity that is imposed on a person:

(A) solely by reason of the status of the person as an interest holder; or

(B) by the organic rules of the entity which make one (1) or more specified interest holders liable in their capacity as interest holders for all or specified liabilities of the entity; or

(2) an obligation of an interest holder under the organic rules of an entity to contribute to the entity.

As added by P.L.118-2017, SEC.6.


Download our app to see the most-to-date content.