Quote:
Originally Posted by Dread Knot
For me, the main question that arises from this ruling is what it says about corporate law. The main purpose of an LLC and its other iterations is to protect and shield the individual owners from liability for the actions of the corporation. It is an independent entity. By extension if it is sued or it incurs fines or if it owes debts etc, the stakeholders can't be held as individual responsible parties for payment because the corporation owes and not the owners personally. If Hobby Lobby suddenly had a turn for the worse financially, the corporate veil would insulate the shareholders from financial liability beyond their stake in the corporation because the corporation and the shareholders are treated as legally separate. Yet, that veil is apparently non-existent when it comes to religious beliefs.
In this case, the owners (the Greens) successfully argued that no - in fact we and our corporation are one. There is no separation. Doesn't that kinda throw one of the core purposes of an LLC/LLP/etc out the window?
Seems like if you have a pending suit against Hobby Lobby, you would add the Greens to it real quick - The Supremes just ruled they are the same.
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You brought up some interesting thoughts.
Either a corporation is separate from its owners or it ain't. One should not be able to pick and choose based on what is advantageous at the moment.