[57north-discuss] Becoming a CIC, any thoughts?

[Iain R. Learmonth]

Hi,

On 05/07/2019 09:33, Andy Gaskell wrote:
> I'll check, but I think we'd still have the same liability as at the
> moment. Currently we're a company limited by guarantee.  So the
> liability is limited to the amount of the guarantee set out in the
> company's articles, which is typically just £1.  I'll check what we've
> got in our articles.

Last time I asked, it was £5 with each of the *founding* directors being
equally and severally liable. No one ever updated the list of guarantors
when the list of directors changed.

I haven't actually checked myself and I don't remember who told me this
though, so this could be inaccurate.

Thanks,
Iain.