{"id":9976,"date":"2018-05-08T10:09:43","date_gmt":"2018-05-08T17:09:43","guid":{"rendered":"https:\/\/www.keytlaw.com\/azllclaw\/?page_id=9976"},"modified":"2018-05-08T16:15:38","modified_gmt":"2018-05-08T23:15:38","slug":"ars-section-29-3304","status":"publish","type":"page","link":"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3304\/","title":{"rendered":"ARS Section 29-3304 Liability of Members &#038; Managers"},"content":{"rendered":"<p style=\"text-align: justify;\">A. A debt, obligation or other liability of a limited liability company is solely the debt, obligation or other liability of the company.\u00a0 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 company or for the acts or omissions of any other member, manager, agent or employee of the company, solely by reason of being or acting as a member or manager. this subsection Applies regardless of the dissolution of the company.<\/p>\n<p style=\"text-align: justify;\">B. The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager for a debt, obligation or other liability of the company.<\/p>\n<p style=\"text-align: justify;\"><strong>Note<\/strong>:\u00a0 As of September 1, 2020, this statute applies to all Arizona LLCs .\u00a0 The text above shows the statute as of January 1, 2025.\u00a0 To see if the Arizona legislature modified this statute after January 1, 2025, go the the Arizona legislature's website for <a href=\"https:\/\/www.azleg.gov\/arsDetail\/?title=29\" target=\"_blank\" rel=\"noopener noreferrer\">Title 29, Chapter 7<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A. A debt, obligation or other liability of a limited liability company is solely the debt, obligation or other liability of the company.\u00a0 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 company or for the acts or omissions of any other member, manager, agent or employee of the company, solely by reason of being or acting as a member or manager. this subsection Applies regardless of the dissolution of the company. B. The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager for a debt, obligation or other liability of the company.<\/p>\n","protected":false},"author":158,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-9976","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ARS Section 29-3304 Liability of Members &amp; Managers - Arizona LLC Law<\/title>\n<meta name=\"description\" content=\"The complete text of Arizona Revised Statutes Section 29-3304 of Arizona&#039;s new LLC law that is effective September 1, 2019.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.keytlaw.com\/azllclaw\/ars-section-29-3304\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ARS Section 29-3304 Liability of Members &amp; 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