Section 183.0304 - Liability of members and managers(1) A debt, obligation, or other liability of a limited liability company is solely the debt, obligation, or other liability of the company. Except as provided in ss. 73.0306, 183.0403, and 183.0406, a member or manager is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the company solely by reason of being or acting as a member or manager. This subsection applies regardless of the dissolution of the company.(2) The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager for a debt, obligation, or other liability of the company.Amended by Acts 2021 ch, 258,s 616, eff. 4/17/2022.Amended by Acts 2017 ch, 58,s 38, eff. 9/20/2017.1993 a. 112; 1995 a. 400. Personal Liability for Corporate Debt. Kelley. Wis. Law. Oct. 1994. When Nonlawyers "Represent" LLCs. Mehl. Wis. Law. Mar. 2009.