English
Notwithstanding the provision of Article 534 Sub-Article
(3) of this Code pertaining to limited liability of the
member, the member of a one person private limited
company or any other person who has control over the
company directly or indirectly shall be jointly and
severally liable with the company where he is found to
have committed one of the following:
1/ intentionally commits an unlawful act that jeopardizes
the interests of the company or creditors of the
company;
2/ intermingles the assets of the company with his
property;
3/ fails to keep separate his own personality and that of
the company;
4/ deliberately releases regarding the financial status of
the company information that can mislead the
creditors of the company;
5/ make use of the assets of the company for himself or to
benefit third parties without adequate payment being
made the company;
6/ receives dividend in excess of the maximum that can
be paid under the law or
7/ commits other similar acts.
