In Lawsuit Against a Sole Member LLC, is the Liability of the LLC Only Equal to the Amount of the Initial Financial Contribution?

No, the Limited Liability Company is liable for all of its own debts, regardless of the amount of capital contribution paid by its Members, even a sole Member.

You may be confusing your thought process with the fact that a Member is not personally liable (in most cases) for the debts of the L.L.C.

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Can an LLC Assign Power of Attorney to a Non-Director or Non-Member to Handle Its Business Affairs?

A Limited Liability Company does have the legal authority to appoint an individual as “Attorney in Fact” using a Power of Attorney document.

But there are two organizational specifics that must be reviewed prior to making such a determination for the LLC.

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If I Retire from Our Family LLC, How Do I Transfer My Ownership to My Child?

Membership units in a Limited Liability Company (LLC) can, like stock in a corporation, be transferred from the LLC owners to others, including other current owners of the LLC.

A Sale Agreement or Assignment Agreement can be created to document the transfer of membership units (or stock), the parties to the transfer, the price for the units or stock (if any), etc.

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