QUESTION
If an LLC continues to operate after dissolution has the corporate veil been pierced?
Asked on Jan 26th, 2013 on Business Law - Minnesota
More details to this question:
A company filed for dissolution in Minnesota in August of 2012. In September of 2012 it ordered and received product from a printing company. In September they also provided a Certificate of Exemption (for sales tax purposes) to the printing company. The company had done business with the printing company as a valid LLC for two years prior to the dissolution. Would the members of the LLC be liable personally for the debt after the dissolution? Can personal liability be established for LLC members for debt prior to dissolution
1 ANSWER
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1 Award
Members of a dissolved LLC enjoy no limited liability for the debts they contract following dissolution. However, dissolution does not render them personally liable for debts contracted prior to dissolution.
Answered on Jan 26th, 2013 at 4:01 PM