Personal liability definition

Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

Personal liability means personal liability for a debt,

Personal liability means personal liability for a debt, liability, or other obligation of an entity imposed, by operation of law or otherwise, on a person that co-owns or has an interest in the entity:

Examples of Personal liability in a sentence

• Personal liability will not be required for the members or stockholders of any corporation or trust or any partners in a limited partnership.

• Personal liability shall always be limited to a specific maximum sum, which shall change according to the consumer price index; in addition, personal liability shall cover the payment, with interest, interest on arrears and all costs that may be incurred due to the late payment of the debt, including court costs and collection fees.

• All rights granted to the Shareholders under this Declaration of Trust are granted subject to the reservation of the right to amend this Declaration of Trust as herein provided, except that no amendment shall repeal the limitations on Personal liability of any Shareholder or Trustee or repeal the prohibition of assessment upon the Shareholders without the express consent of each Shareholder or Trustee involved.

• Under the terms and conditions prescribed in the bylaws, a member shall lose his vote if he ceases to belong to the class eligible to membership under this section, but he shall remain subject to any liability incurred by him while a member of the association.4. Personal liability.

• Repealed and Re-enacted by Chapter 39, 1998 General Session 75-2-702 Requirement of survival by 120 hours -- Under probate code or governing instrument -- Co-owners -- Exceptions -- Protection of payors, third parties, and bona fide purchasers -- Personal liability of recipient.

More Definitions of Personal liability

Personal liability means liability for a debt, obligation, or other liability of an

Personal liability means liability for a debt, obligation, or other liability of an organization that is imposed on a person that co‑owns, has an interest in, or is a member of the organization:

Personal liability means liability for a debt, obligation, or other liability of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization: (1) by the governing statute solely by reason of the

Personal liability means liability for a debt, obligation, or other

Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization: (a) By the organization's governing statute solely by reason of the person co-owning, having an interest in, or being a member of the organization; or (b) By the organization's organizational documents under a provision of the organization's governing statute authorizing those documents to make one or more specified persons liable for all or specified debts, liabilities, and other obligations of the organization solely by reason of the person or persons co-owning, having an interest in, or being a member of the organization.

Personal liability means individual financial

Personal liability. The University shall not be liable for damages to the employee’s personal property resulting from this telecommuting Agreement. Employee agrees to hold the University harmless for injury to others at the designated alternative worksite. The employee understands that Employee is responsible for tax consequences, if any, of this arrangement, and for conformance to any local zoning regulations.