This is a tricky question because there is always the interplay between the liability protection afforded to an LLC officer under the limited liability company laws and the general law that requires that you be personally accountable for your actions.
Making decisions in a business is difficult. You need to decide on things when you may not have complete information and you may make decisions that may ultimately prove to not be the best one. The law acknowledges this and so generally does not hold an officer or a manager personally liable for the acts made on behalf of the business AS LONG AS the person acted reasonably and did his homework when making such decisions.
This is a standard of care that is imposed on those who run a business which benefits others (like the other members) and the specific standard actually differs based on your state. Some have a very low standard while others impose stricter requirements. However, the general concept is that you should “mind the business” when serving in your officer role.
Gather all the available information you need in any business situation and take the time to review it. Consult with your employees or advisers if need be. Spend the time to think through each business decision and always ask what is in the best interests of the LLC business. If you maintain this standard and engage in some diligence, the LLC liability protection laws should protect you.
One additional protection you could ask for before serving in an officer role is an indemnity agreement where the LLC business will agree to cover your personal liability if one ever came up. Another layer of protection is requiring a director and officer insurance policy to cover you.
Now, if you engage in unlawful or illegal conduct or you make decisions that are clearly in your interests but not the interests of the LLC business, you could be found personally liable.
