Mass. Gen. Laws ch. 156C § 22

Current through Chapter 231 of the 2024
Section 156C:22 - Debts, obligations and liabilities of limited liability company

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.

Mass. Gen. Laws ch. 156C, § 22

Amended by Acts 2003, c. 4, § 40, eff. 3/5/2003.