Section 4042 - Liability of members and managers(a) The debts, obligations, or other liabilities of a limited liability company, whether arising in contract, tort, or otherwise:(1) are solely the debts, obligations, or other liabilities of the company; and(2) do not become the debts, obligations, or other liabilities of a member or manager solely by reason of the member acting as a member or the manager acting as a manager.(b) The failure of a limited liability company to observe any particular formalities relating to the exercise of its power or management of its activities is not a ground for imposing liability on a member or manager for the debts, obligations, or other liabilities of the company.