Section 10.50.265. Liability of members to third parties.

Latest version.

A person who is a member of a limited liability company or a foreign limited liability company is not liable, solely by reason of being a member, under a judgment, decree, or order of a court, or in another manner, for a liability of the company to a third party, whether the liability arises in contract, tort, or another form, or for the acts or omissions of another member, manager, agent, or employee of the company to a third party.

Notes

History

(Sec. 1 ch 99 SLA 1994; am Sec. 6 ch 78 SLA 1997)

                    
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