Whether to dissolve the LLC or not likely requires a conversation with a lawyer who practices corporate law and the decision probably won't be based simply on this one issue. LLCs are formed to give individuals protection so generally speaking you should not have personal liability.
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I agree with my colleague that generally speaking you should not be held personally liable. However, you should contact a contract lawyer to review you contract, which is the only way to get a good assessment of your situation.
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Take the contract to an attorney for review. There are many factual questions that need to be answered before coming up with a legal course of action.
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