Ballentine's law dictionary. Anderson, W.S.. 1998.
stockholder's liability — Phrase is frequently employed to denote stockholder s statutory, added or double liability for corporation s debts, notwithstanding full payment for stock, but is often employed where stockholder, agreeing to pay full par value of stock, obtained … Black's law dictionary
stockholder's primary liability — The liability of a stockholder directly to a creditor of the corporation under former statutes, such liability attaching immediately upon the contracting of the debt by the corporation. See stockholder s liability … Ballentine's law dictionary
stockholder's secondary liability — The liability of a stockholder to a creditor of the corporation under former statutes, such liability arising upon the exhaustion of all remedies against the corporation for the collection of the debt, at least not before the return unsatisfied… … Ballentine's law dictionary
personal liability — An obligation attaching to the person, as distinguished from an obligation enforceable against property. A liability of an agent or fiduciary imposed on a personal basis for something done by him in the course of the agency or administration of… … Ballentine's law dictionary
nonregistered stockholder — A stockholder in fact who because of the failure of a corporate officer or transfer agent is not recorded as a stockholder on the books of the corporation. A term applied in the older period of superadded liability of stockholders to a… … Ballentine's law dictionary
limited liability — Shareholders in a limited company are only liable to third parties to the limit of their shareholding. Other participants e.g. directors would not normally have any personal liability except with respect to creditors where there has been wrongful … Law dictionary
superadded liability — A personal liability, otherwise known as double liability, once imposed quite generally in this country by constitutional or statutory provisions upon stockholders in banks or business corporations, such being a liability of a stockholder for… … Ballentine's law dictionary
limited liability company operating agreement — USA limited liability company operating agreement. Also known as an LLC agreement, limited liability company agreement and an operating agreement. An agreement governing an LLC s workings. It is commonly viewed as a cross between corporate by… … Law dictionary
limited liability company agreement — USA limited liability company operating agreement. Also known as an LLC agreement, limited liability company agreement and an operating agreement. An agreement governing an LLC s workings. It is commonly viewed as a cross between corporate by… … Law dictionary
limited liability — Legal liability that does not extend beyond the size of an individual’s investment in a Corporation or *partnership. A *stockholder does not suffer liability for a corporation’s debts beyond an amount invested in a corporation, while a *limited… … Auditor's dictionary
