5109 AMS FAIR MURP 001

SB 5109 - S AMD - 025

    By Senator Fairley

            SCOPE AND OBJECT RAISED; RULED OUTSIDE S/O - 2/2.18/97

    On page 2, after line 11, insert the following:

    "Sec. 2.  RCW 25.15.125 and 1994 c 211 s 303 are each amended to read as follows:

    (1) Except as otherwise provided by this chapter, the debts, obligations, and liabilities of a limited liability company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations, and liabilities of the limited liability company; and no member or manager of a limited liability company shall be obligated personally for any such debt, obligation, or liability of the limited liability company solely by reason of being a member or acting as a manager of the limited liability company.

    (2) The provisions of subsection (1) shall not apply to a limited liability company unless that limited liability company maintains for itself and its member or members a policy of liability insurance, bond or other evidence of financial responsibility designated by rule by the state insurance commissioner in the amount of at least one million dollars.

    (((2))) (3) A member or manager of a limited liability company is personally liable for his or her own torts.@

SB 5109 - S AMD - 025

    By Senator Fairley

    On page 1, on line 2 of the title, after "RCW" insert "25.15.125  and"

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