CORPORATE VEIL NOT PIERCED BY FAILURE OF LLC TO PAY ANNUAL CORPORATE FEES, IF FEES UNTIMATELY PAID AND LLC IS REINSTATED
In an unpublished decision the Ct. of Appeals held on Aug. 26, 2011 that a Plaintiff was not entitled to sue tenant personally for lease executed by LLC. The LLC registration had expired due to non-payment of annual fees to Sec. of State, but the company was later reinstated by the Sec. of State.
The Court held that KRS 275.295(3)(c) clear intent was for:
”[R]einstatement to restore a corporation to the same position it would have occupied had it not been dissolved and that reinstatement validates any action taken by a corporation between the time it was administratively dissolved and the date of its reinstatement…”
See: 2010-CA-001172 PANNELL, RICK VS. SHANNON, ANN, ET AL