183.0304 Liability of members to 3rd parties. - Wisconsin Statutes

183.0304

183.0304 Liability of members to 3rd parties.

183.0304(1)

(1) 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. Except as provided in ss. 183.0502 and 183.0608, a member or manager of a limited liability company is not personally liable for any debt, obligation or liability of the limited liability company, except that a member or manager may become personally liable by his or her acts or conduct other than as a member or manager.

183.0304(2)

(2) Notwithstanding sub. (1), nothing in this chapter shall preclude a court from ignoring the limited liability company entity under principles of common law of this state that are similar to those applicable to business corporations and shareholders in this state and under circumstances that are not inconsistent with the purposes of this chapter.

183.0304 - ANNOT.

History: 1993 a. 112; 1995 a. 400.

183.0304 - ANNOT.

Personal Liability for Corporate Debt. Kelley. Wis. Law. Oct. 1994.

183.0304 - ANNOT.

When Nonlawyers "Represent" LLCs. Mehl. Wis. Law. March 2009.