Pass a state law which reduces the personal limitation of liability of an owner of an LLC or corporation to 50% of the losses of that entity.
Why is this important?
The provision of a limitation of liability in most State Constitutions allows investors in corporations and LLCs to limit their liability for bad actions on their part to the amount of their investment. This Petition would reduce that limitation to 50% and the other 50% of the liability of a corporation or LLC would come out of the investor's personal funds. In order to fix our economic system, these investors need to have "skin in the game." Obviously, the present system is broken and provides too much irresponsibility.
