Liability of limited company

Legal analysis: limited liability companies bear limited liability. Specifically, a limited liability company takes responsibility with its independent property. When the company's property can't pay off the debts, the shareholders shall bear limited liability for the company's debts with the amount of capital contribution they have subscribed. However, in some special circumstances, shareholders need to bear unlimited joint and several liability for the company's debts.

Legal basis: Article 3 of People's Republic of China (PRC) Company Law is an enterprise legal person with independent legal person property and legal person property rights. The company is liable for its debts with all its property. Shareholders of a limited liability company shall be liable to the company to the extent of their subscribed capital contribution; Shareholders of a joint stock limited company shall be liable to the company to the extent of the shares subscribed by them.