§ 38.2-4505. Liability of participants
A. All dentists or optometrists participating in a plan shall be jointly and severally liable on all contracts made for the purpose of the plan by the nonstock corporation as agent for them. Each contract may be executed and signed by their agent on their behalf. A contract so signed shall be binding on the principals and not on the agent.
B. Actions for breach of these contracts may be brought against the principals by naming the agent as the sole defendant. A judgment in favor of the plaintiff may be satisfied out of the assets of the nonstock corporation or out of the assets of each of the principals.
C. Each participant shall be liable for his own torts and not for the torts of any other participant or of the agent.
(1980, c. 682, § 38.1-896; 1986, c. 562.)
Sections: Previous 38.2-4500 38.2-4501 38.2-4502 38.2-4503 38.2-4504 38.2-4505 38.2-4506 38.2-4507 38.2-4508 38.2-4509 38.2-4509.1 38.2-4510 38.2-4511 38.2-4512 38.2-4513 NextLast modified: April 3, 2009