Ala. Code § 10A-5A-3.01

Current with legislation from 2024 effective through May 13, 2024.

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.

Ala. Code § 10A-5A-3.01 (1975)

Added by Act 2014-144,§ 1, eff. 1/1/2015.