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We had started a business with another couple "who had a business before and were supposed to be very knowledgeable" well not going well. We wish to leave and I was wandering what exposure I have till we get our names off of the company? Understand we are an LLC so what would that do for separation and existing POs the already has?
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The general rule is that the individual owners are not liable for debts of the LLC. If you personally signed for any loan or other obligation of the LLC, you will remain liable though. Its best to tell these folks that you want out and put together an orderly exit. Don't avoid the conversation .
Answered on Apr 18th, 2018 at 11:46 AM