Vt. Stat. Ann. tit. 11, § 4042
Liability of members and managers
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(1) The debts, obligations, or other liabilities of a limited liability company, whether arising in contract, tort, or otherwise: are solely the debts, obligations, or other liabilities of the company; and
(1) The debts, obligations, or other liabilities of a limited liability company, whether arising in contract, tort, or otherwise: are solely the debts, obligations, or other liabilities of the company; and
(2) do not become the debts, obligations, or other liabilities of a member or manager solely by reason of the member acting as a member or the manager acting as a manager.
(2) do not become the debts, obligations, or other liabilities of a member or manager solely by reason of the member acting as a member or the manager acting as a manager.
(3) The failure of a limited liability company to observe any particular formalities relating to the exercise of its power or management of its activities is not a ground for imposing liability on a member or manager for the debts, obligations, or other liabilities of the company. Added 2015, No. 17, § 2.
(3) The failure of a limited liability company to observe any particular formalities relating to the exercise of its power or management of its activities is not a ground for imposing liability on a member or manager for the debts, obligations, or other liabilities of the company.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.