605.0304 Liability of members and managers.
144 words·~1 min read·
/fl/title-xxxvi/chapter-605/605-0304·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A debt, obligation, or other liability of a limited liability company is solely the debt, obligation, or other liability of the company. A member or manager is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the company solely by reason of being or acting as a member or manager. This subsection applies regardless of the dissolution of the company.
(2)The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager of the company for a debt, obligation, or other liability of the company.
(3)The limitation of liability in this section is in addition to the limitations of liability provided for in s. 605.04093 .