Ohio SB146 codifies the common law doctrine of piercing the corporate veil.

Ohio SB146 codifies the common law doctrine of piercing the corporate veil, allowing a person to hold a covered person liable for damages or civil penalties if they can demonstrate the covered person exerted control over the covered entity and caused it to perpetrate fraud. The bill defines "covered person" and "covered entity," and specifies that certain actions do not constitute control. The law applies to claims brought on or after the effective date, with intent for both prospective and retroactive application unless deemed unconstitutional.

Ohio SB146 codifies the common law doctrine of piercing the corporate veil.

Ohio SB146 codifies the common law doctrine of piercing the corporate veil, allowing a person to hold a covered person liable for damages or civil penalties if they can demonstrate the covered person exerted control over the covered entity and caused it to perpetrate fraud. The bill defines "covered person" and "covered entity," and specifies that certain actions do not constitute control. The law applies to claims brought on or after the effective date, with intent for both prospective and retroactive application unless deemed unconstitutional.