489.304  Liability of members and managers.
  1.  For debts, obligations, or other liabilities of a limited liability company, whether arising in contract, tort, or otherwise all of the following apply:
  a.  They are solely the debts, obligations, or other liabilities of the company.
  b.  They 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 manager acting as a manager.
  2.  The failure of a limited liability company to observe any particular formalities relating to the exercise of its powers or management of its activities is not a ground for imposing liability on the members or managers for the debts, obligations, or other liabilities of the company.
2008 Acts, ch 1162, §30, 155