1) Apersonal matter to be determined by each employee
2) Taught by attending company-sponsored seminars
3) Instilled by the leadership of outside consultants
4) learned by observing ...
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I bought a lot of items. There were a few that did not fit into bag. The receipt was a mile long. Upon leaving I hand my receipt to the greeter, he barely looks it over and then sends me on my way. I ...
I have noticed that Wal-Mart has more controversy than any other discount retailers? There are websites about Why Wal-Mart is not a good place to work and shop and on the television shows The Simpons ...
Additional Details I live in an area that only has one Animal Shelter and they euthanize the majority of the animals that are placed in it. I want to open a shelter that gives an animal ...
the said i still have to pay the whole bill and its like a thousand dollars and its not mine please somebody tell me what i can do. they gave me the number and city for the people and ive been tryin ...
Can the company secretary be held liable for any cost if a company goes bust?
My friend is opening a private company and has asked if i can be listed as the company secretary with companies house, if the company runs up any debts and goes bust will i be liable to pay anything as i dont want to put myself in danger for a favour
Please look up the responsibilities of Corporate Secretary with the agency in your state that regulates incorporations.
as Secretary, you are responsible for filing annual reports and other submittals depending on the type of corporation.
if this is to be a small company and he is the only real officer. have him consider filing as a "Chapter S" corporation.
this allows him a degree of immunity of liability, and still run the taxes on his private tax return.
he also won't need other officers.
wer.
ed
Not in a corporation, unless the secretary or any officer breaks the law in the operation.
squeezie_1999
If the company is a corporation, you're generally not liable, except if there is accusation of fraud or criminal behavior. Even if your were not involved or knew of it, you can be left holding the bag and subject to civil or criminal penalties, if you signed documents or agreed to decisions which were involved.
As a company officer, you will be responsible, and pleading to the judge that you were just doing your friend a favor won't help.
It depends if you are a partner or and employee in the company and what kind of partner. If you are general partner you hold unlimited liability in the company, but if you are a limited partner you only have liability for your actions in the company. As an employee you do not hold any liability in the company.
If your friend starts this company tell him to either make it a sole proprietorship in which he is the only person in authority of the company and he has unlimited liability or if he wants to make a partnership you should make it either a LLP (Limited Liability Partnership) in which you would not be held personally liable for the company if it goes bust or make it a LLLP (Limited Liability Limited Partnership) in which you are a limited partner in the partnership.
stevexnelson
Why take the chance? It's not worth it. Find an excuse to get out of doing this.
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