Ron cardigan, son of camille and ray (camille’s first husband) has
Uniform Limited Liability Company Act is the law that regulates limited liability companies. The Uniform Limited Liability Company Act (ULCA) is the law that frames this scenario. It contains rules and regulations that define what obligations, liabilities, rights and responsibilities a company has to its members.
For example, §101 of the ULLCA states that members are only liable for debts owed to third parties within their scope of authority as stated in the articles of organization; thus, a court would likely rule that these two individual members should not be held responsible for any debts outside of this scope since they have no direct control over them.
ULLCA also covers other factors such as the required notice provisions for members who are discharging and rules regarding indemnification. This gives an LLC more legal certainty.