Personal name:
Where a shareholder borrows money in his own name, it is a personal debt, and other shareholders are not liable.
Company name:
If a loan is made in the name of a company, the actual situation should be distinguished. If the loan contract has an official seal, the loan shall be credited to the company account, and the third party is unaware of it, which belongs to the company's debt and shall be paid off with the company's assets. If this shareholder causes losses to other shareholders, other shareholders can recover.
If the loan contract is not enough to be recognized as a company debt, it shall be treated as a personal debt. If the borrower and the lender maliciously collude to harm the interests of the company, other shareholders may claim that the loan contract is invalid.
Legal basis: Article 62 of the General Principles of Civil Law of People's Republic of China (PRC) * * * If the legal representative causes damage to others when performing his duties, the legal person shall bear civil liability. After a legal person bears civil liability, it may claim compensation from the legal representative at fault in accordance with the law or the articles of association of the legal person.