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2017 Kentucky Revised Statutes
CHAPTER 275 - LIMITED LIABILITY COMPANIES
.150 Immunity from personal liability.

Universal Citation: KY Rev Stat § 275.150 (2017)
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275.150 Immunity from personal liability. (1) (2) (3) Except as provided in subsection (2) of this section or as otherwise specifically set forth in other sections in this chapter, no member, manager, employee, or agent of a limited liability company, including a professional limited liability company, shall be personally liable by reason of being a member, manager, employee, or agent of the limited liability company, under a judgment, decree, or order of a court, agency, or tribunal of any type, or in any other manner, in this or any other state, or on any other basis, for a debt, obligation, or liability of the limited liability company, whether arising in contract, tort, or otherwise. The status of a person as a member, manager, employee, or agent of a limited liability company, including a professional limited liability company, shall not subject the person to personal liability for the acts or omissions, including any negligence, wrongful act, or actionable misconduct, of any other member, manager, agent, or employee of the limited liability company. That a limited liability company has a single member or a single manager is not a basis for setting aside the rule otherwise recited in this subsection. Notwithstanding the provisions of subsection (1) of this section, under a written operating agreement or under another written agreement, a member or manager may agree to be obligated personally for any of the debts, obligations, and liabilities of the limited liability company. Subsection (1) of this section shall not affect the liability of a member, manager, employee, or agent of a limited liability company for his or her own negligence, wrongful acts, or misconduct. Effective: July 12, 2012 History: Amended 2012 Ky. Acts ch. 81, sec. 105, effective July 12, 2012. -- Amended 2010 Ky. Acts ch. 133, sec. 31, effective July 15, 2010. -- Amended 1998 Ky. Acts ch. 341, sec. 26, effective July 15, 1998. -- Created 1994 Ky. Acts ch. 389, sec. 30, effective July 15, 1994.
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