Personal Liability of Members and Managers An LLC generally shields its members from liability for the company’s obligations. However, there are circumstances in which members may be held personally liable for the LLC’s obligations. Here are a few examples: 1)  If a member has an oral side agreement to reimburse the LLC for payments made…

Changes in the Law That Take Effect for LLC’s in California Best Asset Protection – WFB Legal Consulting, Inc On January 1, 2014, the California Revised Uniform Limited Liability Company Act (the RULLCA) will take effect. The RULLCA (new LLC law) replaces the Beverly-Killea Limited Liability Company Act, California’s current law governing limited liability companies. The…

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