The information for this blog post can be viewed here. This information pertains to North Carolina.

Some Dos & Don’ts of Businesses:

  1. Do NOT sell stock, membership interests, bonds, etc. without consulting an attorney. Stock, membership interests, bonds, etc. may be considered securities and regulated at the state and federal level. You do not want to violate the law.
  2. If you are presented with an opportunity that may affect your business, you should conduct a thorough review of the other party and any documentation.
  3. If you are an equity owner of a corporation or LLC, then you are not personally responsible for the debts of those entities.
  4. Sometimes a court will “pierce the corporate veil” of limited liability and hold the equity owners personally responsible for the company’s debt.
  5. Never commingle personal and business assets.

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