The failure of a limited liability company to observe ordinary company formalities:
A) is grounds for imposing personal liability on the members of the limited liability company.
B) is grounds for imposing personal liability on the members of the limited liability company, but only if it can be shown that in spite of the fact that it was common knowledge that formalities were not being observed, nothing was done.
C) is grounds for imposing personal liability, but only on a member who owns more than fifty percent of the limited liability company.
D) is not grounds for imposing personal liability on a member, so long as the member can show that he or she filed a formal complaint.
E) is not grounds for imposing personal liability on the members of the limited liability company.
Correct Answer:
Verified
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