Section 22: Debts, obligations and liabilities of limited liability company
96 words·~1 min read·
/ma/part-i/title-xxii/chapter-156c/22·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 22. Except as otherwise provided by this chapter, 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 personally liable, directly or indirectly, including, without limitation, by way of indemnification, contribution, assessment or otherwise, 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.