Guam § 15118 - Liability of Members and Managers.
Full text of Guam Guam Code Annotated § 15118 — Liability of Members and Managers., with citation guidance and answers to common questions.
§ 15118. Liability of Members and Managers.
Neither the members of a limited liability company nor the
managers of a limited liability company managed by a manager
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or managers are liable under a judgment, decree, or order of a
court, or in any other manner, for a debt, obligation, or liability
of the limited liability company. If members or managers are
professionals who will organize their business or service as a
limited liability company, they will still remain liable for their
professional performance.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 15118
What does Guam Code Annotated § 15118 cover?
Section 15118 ("Liability of Members and Managers.") is part of the Guam Code Annotated, the codified statutory law of Guam. 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 Guam § 15118?
A common citation format is "Guam Code Annotated § 15118" (Guam). 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 Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 15118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam 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 Guam.