When the member of a limited liability company engages in fraud on the firm's behalf, the member is not likely to be held personally liable.

Question

Quizplus · Accepted Answer

Members of a limited liability company (LLC) can be held personally liable if they engage in fraudulent activities on behalf of the firm, as limited liability protections do not cover acts of fraud or illegal activities committed by the members.

When the Member of a Limited Liability Company Engages in Fraud