In a limited liability company, members act as agents of the LLC but are not personally liable to third parties.

Name: In a limited liability company, members act as agents of the LLC but are not personally liable to third parties.
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Question

Quizplus · Accepted Answer

For liability purposes, members do act as agents of their LLC. However, they are not personally liable to third parties. Thus, these members have attributes of both partners and shareholders with respect to liability.

In a Limited Liability Company, Members Act as Agents of the LLC