Pennsylvania Statutes

§ 8834 — Liability of members and managers

Pennsylvania·Title 15 CORPORATIONS AND UNINCORPORATED ASSOCIATIONS·Part PART III·Ch. 88 LIMITED LIABILITY COMPANIES·Subch. RELATIONS OF MEMBERS AND MANAGERS
(a)General rule.--A debt, obligation or other liability of a limited liability company is solely the debt, obligation or other liability of the company. 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:
(1)whether the company has a single member or multiple members; and
(2)the dissolution, winding up or termination of the company.
(b)Professional relationship unaffected.--Subsection (a) shall not afford members of a professional company with greater immunity than is available to the officers, shareholders, employees or agents of a professional corporation. See section 2925

Free access — add to your briefcase to read the full text and ask questions with AI

Pennsylvania § 8834 (Liability of members and managers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Cross References.Section 8834 is referred to in section 8872 of this title.

Nearby Sections

15
View on official source ↗