(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued (Code Section 14-2-621) or specified in the subscription agreement (Code Section 14-2-620).
(b) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debt of the corporation except that he may become personally liable by reason of his own acts or conduct.
Section: Previous 14-2-620 14-2-621 14-2-622 14-2-623 14-2-624 14-2-625 14-2-626 14-2-627 14-2-628 NextLast modified: October 14, 2016