Members of limited liability companies are shielded from personal liability in many situations.

Question

Quizplus · Accepted Answer

Limited liability companies (LLCs) provide their members with limited liability, meaning that they are not personally responsible for the debts and obligations of the company. However, there are some situations where this liability protection may not apply, such as if the member engages in fraudulent or illegal activities or personally guarantees a business debt.

Members of Limited Liability Companies Are Shielded from Personal Liability