Statutes > Virginia Statutes > Title 13.1 - CORPORATIONS. > Chapter 10 - Virginia Nonstock Corporation Act (13.1-801 thru 13.1-946) > 13.1-821 - Liability for preincorporation transactions.

13.1-821 - Liability for preincorporation transactions.

§ 13.1-821. Liability for preincorporation transactions.

All persons purporting to act as or on behalf of a corporation, but knowingthere was no incorporation under this chapter, are jointly and severallyliable for all liabilities created while so acting except for any liabilityto any person who also knew that there was no incorporation.

(1985, c. 522.)