2013 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
322B.303 PERSONAL LIABILITY OF MEMBERS AS MEMBERS.
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Subdivision 1.Limited liability rule.
Subject to subdivision 2, a member, governor, manager, or other agent of a limited liability company is not, merely on account of this status, personally liable for the acts, debts, liabilities, or obligations of the limited liability company.
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Subd. 2.Piercing the veil.
The case law that states the conditions and circumstances under which the corporate veil of a corporation may be pierced under Minnesota law also applies to limited liability companies.
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Subd. 3.Limited liability after dissolution.
The limited liability described in subdivisions 1 and 2 continues in full force regardless of any dissolution, winding up, and termination of a limited liability company.
History:
Official Publication of the State of Minnesota
Revisor of Statutes