Florida § 605.2401 - Limitations on liability.
Full text of Florida Florida Statutes § 605.2401 — Limitations on liability., with citation guidance and answers to common questions.
§ 605.2401. Limitations on liability.
(1) A person is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, an obligation, or another liability of either of the following: (a) A protected series of a series limited liability company solely by reason of being or acting as: 1. An associated member, protected-series manager, or protected-series transferee of the protected series; or 2. A member, manager, or transferee of the company; or (b) A series limited liability company solely by reason of being or acting as an associated member, protected-series manager, or protected-series transferee of a protected series of the company. (2) Subject to s. 605.2404, the following apply: (a) A debt, an obligation, or another liability of a series limited liability company is solely the debt, obligation, or liability of the company. (b) A debt, an obligation, or another liability of a protected series is solely the debt, obligation, or liability of the protected series. (c) A series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, an obligation, or another liability of a protected series of the company solely by reason of the protected series being a protected series of the company, or the series limited liability company: 1. Being or acting as a protected-series manager of the protected series; 2. Having the protected series manage the series limited liability company; or 3. Owning a protected-series transferable interest of the protected series. (d) A protected series of a series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, an obligation, or another liability of the company or another protected series of the company solely by reason of: 1. Being a protected series of the series limited liability company; 2. Being or acting as a manager of the series limited liability company or a protected-series manager of another protected series of the company; or 3. Having the series limited liability company or another protected series of the company be or act as a protected-series manager of the protected series.
Frequently Asked Questions About Florida § 605.2401
What does Florida Statutes § 605.2401 cover?
Section 605.2401 ("Limitations on liability.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 605.2401?
A common citation format is "Florida Statutes § 605.2401" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 605.2401 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.