Which of the following is generally true regarding the liability of members of a limited liability partnership for malpractice?
A) Members split evenly among themselves 50% of any assessed liability for malpractice against any member with the limited liability company retaining liability for the remaining 50%.
B) Members are not liable for their own malpractice or for the malpractice of other members because recovery for malpractice may only be obtained from assets of the limited liability partnership itself.
C) Members are liable for their own malpractice but not for the malpractice of other members.
D) Members are liable for their own malpractice and also for the malpractice of other members.

Question

Quizplus · Accepted Answer

In a limited liability partnership (LLP), members are typically liable for their own malpractice but not for the malpractice of other members. This structure protects individual members from personal liability for the actions of their colleagues.

Which of the Following Is Generally True Regarding the Liability