Georgia has a very strong pierce the corporate veil statute and allows you to pierce the corporate veil and go after the shareholders or officers individually.
http://howeassociates.wistia.com/medias/n5jf3n1xa9?embedType=seo&videoFoam=true&videoWidth=601
When a corporation incurs a debt there is no personal liability. In other words, that’s the idea of the corporate shield. It says that if you’re a corporation and you incur debts then the officers or shareholders are not personally liable for the debt.
When Can We Proceed with A Pierce the Corporate Veil Action?
Our office, whenever we have a business debt collection matter, we never really stop at the point where a debtor says we are insolvent or we’re defunct. We always dive into it, we bring them in for depositions, we force them to reveal whatever assets they have. At that time we determine whether or not we can proceed with an action to pierce the corporate veil.
Piercing the Corporate Veil in Georgia
Georgia has a very strong pierce the corporate veil statute and allows you to pierce the corporate veil and go after the shareholders or officers individually. It allows us to go after their individual assets. If they did not fund the corporation properly or they commingled funds we can go after the officers and shareholders individually.
Insolvency & commingling are two of the most common reasons and weapons to be able to pierce the corporate veil and hold a shareholder liable.