{"data":{"id":"us-vt/11-v.s.a.-4042","jurisdiction":"us-vt","citation":"11 V.S.A. § 4042","heading":"Liability of members and managers","body":"(a) The debts, obligations, or other liabilities of a limited liability company, whether arising in contract, tort, or otherwise:\n(1) are solely the debts, obligations, or other liabilities of the company; and\n(2) do not become the debts, obligations, or other liabilities of a member or manager solely by reason of the member acting as a member or the manager acting as a manager.\n(b) The failure of a limited liability company to observe any particular formalities relating to the exercise of its power or management of its activities is not a ground for imposing liability on a member or manager for the debts, obligations, or other liabilities of the company.","path":["Title 11: Corporations, Partnerships and Associations","Chapter 025: Limited Liability Companies","Subchapter 003: RELATIONS OF MEMBERS AND MANAGERS TO PERSONS DEALING WITH LIMITED LIABILITY COMPANY"],"source_url":"https://legislature.vermont.gov/statutes/section/11/025/04042","current_through":"2025 session","vintage":"","retrieved_at":"2026-09-05T16:01:21Z","sha256":"5a1b1c9df2d49457ff1e6b0af74444dfcab97be1b64d66769c27ce941a0b4bf4","source_id":"us-vt","stale":false,"prev":"us-vt/11-v.s.a.-4041","next":"us-vt/11-v.s.a.-4051"},"notice":"GroundRules: Original legal text. Not legal advice."}