MidlifeFlyer
Well-Known Member
Not for a tort committed by the shareholder. Period.Liability for C and S corp's are limited to the shareholders investment in the company. .
Shareholder in C or S Corp drives a car on company business and causes an accident. Shareholder is personally liable for that accident. And a CFI-shareholder in a C or S corp who is personally involved in a student mishap has personal exposure.
As I said earlier
In terms of liability protection in case of a student accident or something, a corporation, LLC or any other from of entity that provides limited liability protection will not protect you or your assets even a teeny weenie bit.
This is easily the single most misunderstood concept by people about these entities.