Source: https://law.justia.com/codes/hawaii/2010/division2/title23a/chapter428/428-303/
Timestamp: 2019-08-19 17:22:56
Document Index: 795696460

Matched Legal Cases: ['§ 428', '§428', '§428', '§ 428', '§428', '§1']

HI Rev Stat § 428-303 :: Liability of members and managers. :: 2010 Hawaii Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes Hawaii Code 2010 Hawaii Code DIVISION 2. BUSINESS TITLE 23A. OTHER BUSINESS ENTITIES 428. Uniform Limited Liability Company Act §428-303 Liability of members and managers.
§428-303 Liability of members and managers.
HI Rev Stat § 428-303 (2010 through Reg Sess) What's This?
[§428-303] Liability of members and managers. (a) Except as otherwise provided in subsection (c), the debts, obligations, and liabilities of a limited liability company, whether arising in contract, tort, or otherwise, are solely the debts, obligations, and liabilities of the company. A member or manager shall not be personally liable for any debt, obligation, or liability of the company solely by reason of being or acting as a member or a manager.
(b) The failure of a limited liability company to observe the usual company formalities or requirements relating to the exercise of its company powers or management of its business shall not be a ground for imposing personal liability on the members or managers for liabilities of the company.
(c) All or specified members of a limited liability company shall be liable in their capacity as members for all or specified debts, obligations, or liabilities of the company if:
(2) A member so liable has consented in writing to the adoption of the provision or to be bound by the provision. [L 1996, c 92, pt of §1]