Code of Virginia § 13.1-622. Liability for preincorporation transactions.
50 words·~1 min read·
/va/title-13-1/chapter-9/13-1-622·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under this chapter, are jointly and severally liable for all liabilities created while so acting except for any liability to any person who also knew that there was no incorporation.
1985, c. 522.