Kansas Statutes Annotated
Updated Through the 2014 Legislative Session

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Statute Number:17-7688
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Liability to third parties.
Keywords:


Body:

17-7688.Liability to third parties.(a) Except as otherwise provided by this act, the debts, obligations and liabilities of a limited liability company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the limited liability company, and no member or manager of a limited liability company shall be obligated personally for any such debt, obligation or liability of the limited liability company solely by reason of being a member or acting as a manager of the limited liability company.
(b) Notwithstanding the provisions of subsection (a), under an operating agreement or under another agreement, a member or manager may agree to be obligated personally for any or all of the debts, obligations and liabilities of the limited liability company.
History:L. 1999, ch. 119, 27; L. 2014, ch. 40, 22; July 1.



Date Composed: 11/14/2014 Date Modified: 11/14/2014

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