48-12-104 - Liability for preincorporation transactions.
48-12-104. Liability for preincorporation transactions.
All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under chapters 11-27 of this title, are jointly and severally liable for all liabilities created while so acting except for any liability to any person who knew or reasonably should have known that there was no incorporation.
[Acts 1986, ch. 887, § 2.04.]