Legal Question in Business Law in Arizona
Liability protection for LLC Manager
With a legally incorporated LLC that clearly holds the Member Manager not liable for breach of duties, is this not a legitimate defense for any lawsuit alleging such breach.
Asked on 11/01/07, 11:59 pm
2 Answers from Attorneys
Debra Palomino
PALOMINO LAW FIRM, P.C.
Re: Liability protection for LLC Manager
Depends on who is alleging breach of duties and what duties have been breached. The LLC's operating agreement will not be a complete shield for breach of fiduciary duties.
Answered on 11/04/07, 1:38 pm
James Jenkins
Jenkins Law Center PLC
Re: Liability protection for LLC Manager
Your question is somewhat broad. There are always exceptions for special circumstances, and the facts of a claim are pertinent. The shield of liability is general. You see suits against company executives in the news. They may have done something to give an exception.
Answered on 11/05/07, 10:59 am
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