Legal Question in Business Law in Arizona

LLC Protection

I have an insurance agency owned by my LLC

An insurance frachise which I had purchased as a sole proprieter is

coming after me for 132K in what they claim is owed as a franchise fee ( which is another question all together).....My question is , are the assets of my LLC protected if I am sued personally and lose?


Asked on 4/05/08, 11:20 pm

1 Answer from Attorneys
James Jenkins Jenkins Law Center PLC

Re: LLC Protection

Sorry, but any answer given to your question would not do justice. Too few facts are available here. This is apparently an involved matter, and involves a lot of money. See an attorney. The general rule is that members of an LLC will not be liable for contracts of the LLC. There are exceptions.

Best regards,

James D. Jenkins

Read more
Answered on 4/06/08, 12:47 am


Related Questions & Answers

More Business Law questions and answers in Arizona