{"data":{"id":"us-ms/miss.-code-ann.-81-27-6.302","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 81-27-6.302","heading":"Liability of participants and managers.","body":"(a) Except as provided by subsection (b) of this section, the participants, participant-transferees, and managers of a limited liability trust company may not be held liable for a debt, obligation, or liability of the limited liability trust company, including a debt, obligation, or liability under a judgment, decree, or order of court. A participant, other than a full liability participant, or a manager of a limited liability trust company is not a proper party to proceedings by or against a limited liability trust company, unless the object of the proceeding is to enforce a participant’s or manager’s right against or liability to a limited liability trust company.\n(b) A full liability participant of a limited liability trust company is liable under a judgment, decree, or order of court for a debt, obligation, or liability of the limited liability trust company that accrued during the participation of the full liability participant in the limited liability trust company and before the full liability participant or a successor in interest files a notice of withdrawal as a full liability participant from the limited liability trust company with the commissioner. The filed notice of withdrawal is a public record.","path":["Title 81. Banks and Financial Institutions","Chapter 27. Multistate, State and Limited Liability Trust Institutions","Article 6. Additional Definitions; Ownership; Governance; Mergers.","Subarticle D. Special Provisions for Limited Liability Trust Companies."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.81.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:28Z","sha256":"114452caa32945c4e40115b4eba15205bd75c14f9b3ca549185ba4ef361b74ef","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-81-27-6.301","next":"us-ms/miss.-code-ann.-81-27-6.303","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}