Posted by Rob Ricker on August 27, 2003 at 22:33:50:
First, if you don’t record the Land Trust Agreement with the register of Deeds (NEVER record this), no one will know who the beneficiary of the trust is. How are they going to find out who the officers of the corp or LLC are when they don’t even know about the company itself? This is all a mute point if you do things right.
Second, Even if they did know about the corp the officers are not the owners of corp. The SHAREHOLDERS are the owners! Someone would have to assume that all or some of the officers are stockholders (they’d probably be right) but if the corporation’s records are kept correctly, even the owners (shareholders) are not personally responsible for anything.
Chew on that for a while