Tag: limited liability

Kentucky Finds Sole Member Not Personally Liable on Lease That LLC Entered into While Administratively Dissolved

Administrative dissolution is a remedy that states use to enforce their annual-fee and annual-report requirements for LLCs. The dissolved LLC must wind up and liquidate its business, but can be reinstated if it pays the back fees and files its report. The reinstatement will then relate back and take effect as of the date of … Continue Reading

Capital Calls and Personal Liability in Kentucky

  LLC agreements sometimes require members to contribute additional capital upon demand of the LLC. This is risky business for the members. The LLC may unexpectedly ask for more capital when the members are not expecting it. And worse, sometimes creditors will attempt to force the LLC to call for capital from the members, in … Continue Reading