Both are true. The state is often a corporation. And in addition the state owns the liabilities of registered corporations. That is, there is no liability devolved to the people running the corporation. If the corporation fails with unpaid liabilities that other corporations cannot absorb (such as a bank) the state will have to bail it out.
Both are true. The state is often a corporation. And in addition the state owns the liabilities of registered corporations. That is, there is no liability devolved to the people running the corporation. If the corporation fails with unpaid liabilities that other corporations cannot absorb (such as a bank) the state will have to bail it out.
Both are true. The state is often a corporation. And in addition the state owns the liabilities of registered corporations. That is, there is no liability devolved to the people running the corporation. If the corporation fails with unpaid liabilities that other corporations cannot absorb (such as a bank) the state will have to bail it out.