275.150 Immunity from personal liability.

267 words·~1 min read·/ky/chapter-275/275-150

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Except as provided in subsection

(2)of this section or as otherwise specifically set

forth in other sections in this chapter, no member, manager, employee, or agent of a

limited liability company, including a professional limited liability company, shall

be personally liable by reason of being a member, manager, employee, or agent of

the limited liability company, under a judgment, decree, or order of a court, agency,

or tribunal of any type, or in any other manner, in this or any other state, or on any

other basis, for a debt, obligation, or liability of the limited liability company,

whether arising in contract, tort, or otherwise. The status of a person as a member,

manager, employee, or agent of a limited liability company, including a professional

limited liability company, shall not subject the person to personal liability for the

acts or omissions, including any negligence, wrongful act, or actionable misconduct,

of any other member, manager, agent, or employee of the limited liability company.

That a limited liability company has a single member or a single manager is not a

basis for setting aside the rule otherwise recited in this subsection.

(2)Notwithstanding the provisions of subsection

(1)of this section, under a written

operating agreement or under another written agreement, a member or manager may

agree to be obligated personally for any of the debts, obligations, and liabilities of

the limited liability company.

(3)Subsection

(1)of this section shall not affect the liability of a member, manager,

employee, or agent of a limited liability company for his or her own negligence,

wrongful acts, or misconduct.