Title 16
Chapter 20
Part 3
Section 304
| Index | Utah Code |
| Title 16 | Business Entities |
| Chapter 20 | Utah Revised Uniform Limited Liability Company Act |
| Part 3 | Relations Of Members And Managers To Persons Dealing With A Limited Liability Company |
| Section 304 | Liability of members and managers.
(Effective 10/1/2026)
|
Effective 10/1/2026
16-20-304.
Liability of members and managers.
| (1) |
| (a) | A debt, obligation, or other liability of a limited liability company is solely the debt, obligation, or other liability of the limited liability company. |
| (b) | 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 limited liability company solely by reason of being or acting as a member or manager. |
| (c) | This Subsection (1) applies regardless of the dissolution of the limited liability company. |
|
| (2) | The failure of a limited liability company to observe formalities relating to the exercise of the limited liability company's powers or management of the limited liability company's activities and affairs is not a ground for imposing liability on a member or manager of the limited liability company for a debt, obligation, or other liability of the limited liability company. |
Renumbered and Amended by Chapter
93, 2026 General Session