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JimLawyer
JimLawyer, Solicitor
Category: Law
Satisfied Customers: 5510
Experience:  Senior Associate Solicitor
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If I become a share holder in a limited company, am I liable

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Hello, if I become a share holder in a limited company, am I liable legally for any actions that business takes.
Assistant: What state are you in? And have you consulted a local attorney?
Customer: State? I'm in the U.K
Assistant: Has anything been officially filed? If so, what?
Customer: No I haven't
Assistant: Anything else you want the Lawyer to know before I connect you?
Customer: I'm about to sign a contract to join a partnership with two other people in a limited company.
Customer: replied 7 days ago.
Hello

Hello, my name is Jim and I am a qualified lawyer happy to help you today.

No, as a shareholder you simply have a financial interest in the company. It would only be if you were also a director that you would be accountable for any actions the company takes. As a shareholder you have voting rights but that is it - the directors conduct the company business but you are not liable for their actions.

I hope this answers your question – if so could you please click 5 stars at the top of your screen, that will give me a rating on the site and I can answer any follow up questions at no extra charge.

Many thanks,

Jim

JimLawyer and 2 other Law Specialists are ready to help you
Customer: replied 7 days ago.
Okay so as a shareholder, I have voting rights and get dividends according my % I own
Have I got this right?