Current through 2024 Session Acts Chapter 111 and 2024 Special Session Acts Chapter 4
Section 17-7688 - Liability to third parties(a) Except as otherwise provided by this act, the debts, obligations and liabilities of a limited liability company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the limited liability company, and no member or manager of a limited liability company shall be obligated personally for any such debt, obligation or liability of the limited liability company solely by reason of being a member or acting as a manager of the limited liability company.(b) Notwithstanding the provisions of subsection (a), under an operating agreement or under another agreement, a member or manager may agree to be obligated personally for any or all of the debts, obligations and liabilities of the limited liability company.Amended by L. 2014, ch. 40,§ 22, eff. 7/1/2014. L. 1999, ch. 119, § 27; Jan. 1, 2000.