woodchuck
Dec 18 2008, 04:41 PM
A closely held corporation promises to pay an executive NQDC. Can the shareholders of the corporation personally guarantee the corporation's obligation to pay, or does this result in economic benefit/constructive receipt? The obligation to pay is not funded by the corporation in any way, nor does the executive have a security interest in any of the corporation's assets. Still, it seems to me that the guaranty is a form of security that would result in constructive receipt.