North Carolina General Statutes § 57D-4-02 Liability for contributions

If an interest owner has contributed a promissory note or other obligation to transfer money or other property, to perform services, or to provide other benefits to the LLC and the interest owner would but for this section be excused from the performance of that obligation by reason of the interest owner's death or disability or other supervening impossibility or impracticability of performance under contract or other applicable law, the LLC may require the interest owner to pay to the LLC an amount of money equal to the value of the unperformed portion of the promised performance or exercise remedies available under other applicable law. (2013-157, s. 2.)

Sections:  Previous  57D-3-20  57D-3-21  57D-3-22  57D-3-23  57D-3-30  57D-3-31  57D-4-01  57D-4-02  57D-4-03  57D-4-04  57D-4-05  57D-4-06  57D-4-07  57D-5-01  57D-5-02  Next

Last modified: March 23, 2014