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About A. Hall, Minnesota Attorney
Expertise
As a licensed Minnesota attorney, I can answer questions involving Minnesota law in the following areas: business ownership issues, forming a business, contracts, employment, securities, copyrights, trademarks, patents, licensing, trade secrets, unfair trade practices, shareholder disputes, tax law, M&A, corporate law, general business law, and resolving disputes through negotiation, arbitration, or litigation. I can provide general information for these topics in geographic locations outside Minnesota.

Experience
Aaron Hall is a licensed attorney, admitted to practice law in Minnesota state courts and the U.S. Federal District Court in Minnesota. Aaron Hall's experience includes service at the law firms of Fredrikson & Byron, Morrison Fenske & Sund, Foley & Mansfield, and Henningson & Snoxell. Aaron Hall also served as a judicial extern under the Honorable Paul A. Magnuson, United States District Court Judge, and as an adjunct professor at Concordia University teaching Introduction to Business Law, Business Law for Marketing Professionals, and Internet Law for Marketing Professionals courses. Aaron served in a variety of appointed positions for city, county, and state government entities, including the Burnsville City Board of Appeals, the 35W Solutions Alliance, the Minnesota Department of Revenue Property Tax Assessment and Classification Reform Study Group, and the Heart of the City Steering Committee. In 2007, the Minnesota Justice Foundation recognized Aaron for providing over 200 hours of pro bono legal services during the year.

Organizations
American Bar Association Minnesota Bar Association Hennepin County Bar Association Minnesota Small Business

Publications
Associated Press, Star Tribune, Pioneer Press, Duluth News Tribune, William Mitchell Law Review

Education/Credentials
Aaron was awarded his Juris Doctor degree cum laude from William Mitchell College of Law, where he served on the William Mitchell Law Review. He was recognized on the Deans List for outstanding academics and received the CALI Awards of Excellence in Corporations and Alternative Dispute Resolutions courses. Aaron served as President of the Business Law Society and coordinated the establishment of the Corporate Appellate Law Moot Court. He was awarded his Bachelor of Arts degree in Marketing Management and Innovation summa cum laude from Concordia University in St. Paul, Minnesota.

Awards and Honors
Ten Outstanding Minnesotans, Minnesota Jaycees

 
   

You are here:  Experts > Business > Corporate Law > Small Business/Contracts Law > LLC's Liability

Small Business/Contracts Law - LLC's Liability


Expert: A. Hall, Minnesota Attorney - 10/5/2008

Question
We have an LLC in California.  Generally if the LLC is dissolved and close down, can the creditors go after the LLC members/owners's assets?  What if the LLC file bankruptcy, can the creditors go after the owners' assets?

Thank you very much.

Answer
In general, the purpose of an LLC (limited liability company) is to limit the liability of the company so creditors cannot go after the owners' personal assets.  However, exceptions exist when

1. the owner signs a personal guarantee, or
2. the owner is personally liable for as an employee of the LLC.

Some states have other exceptions as well.

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