2015 Wyoming Code
TITLE 17 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
CHAPTER 29 - WYOMING LIMITED LIABILITY COMPANY ACT
ARTICLE 3 - RELATIONS OF MEMBERS AND MANAGERS - TO PERSONS DEALING WITH LIMITED LIABILITY COMPANY
SECTION 17-29-304. - Liability of members and managers.

WY Stat § 17-29-304. (2015) What's This?

17-29-304. Liability of members and managers.

(a) The debts, obligations or other liabilities of a limited liability company, whether arising in contract, tort or otherwise:

(i) Are solely the debts, obligations or other liabilities of the company; and

(ii) 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 manager acting as a manager.

(b) The failure of a limited liability company to observe any particular formalities relating to the exercise of its powers or management of its activities is not a ground for imposing liability on the members or managers for the debts, obligations or other liabilities of the company.

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