§ 10A-5-3.02 — Liability of Members to Third Parties. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017

Alabama § 10A-5-3.02

• Jurisdiction: Alabama
• Title 10A: Alabama Business and Nonprofit Entities Code
• Ch. 5: Limited Liability Companies
• Art. 3: Relationship of Members and Managers to Third Parties

Text

(a) Except as otherwise provided in this chapter, a member of a limited liability company is not liable under a judgment, decree, or order of a court, or in any other manner, for a debt, obligation, or liability of the limited liability company, whether arising in contract, tort, or otherwise, or for the acts or omissions of any other member, manager, agent, or employee of the limited liability company.
(b) A member may be liable to creditors of the limited liability company for a written agreement to make a contribution to the limited liability company.
(c) A member of a limited liability company may become liable by reason of the member’s own acts or conduct.

Legislative History

(Acts 1993, No. 93-724, p. 1425, §20; §10-12-20; amended and renumbered by Act 2009-513, p. 967, §228.)