Code of Alabama - Title 10A: Alabama Business and Nonprofit Entities Code - Section 10A-5A-3.01 - Liability of members to third parties

Section 10A-5A-3.01 - Liability of members to third parties.

A member of a limited liability company is not liable, solely by reason of being a member, for a debt, obligation, or liability of the limited liability company or a series thereof, whether arising in contract, tort, or otherwise or for the acts or omissions of any other member, agent, or employee of the limited liability company or a series thereof.

(Act 2014-144, p. 265, §1.)

Last modified: May 3, 2021