§ 8923. Property.
(a) General rule.--Property transferred to or otherwise acquired by a limited liability company becomes property of the company. A member has no interest in specific property of a company.
(b) Title.--Property may be acquired, held and conveyed in the name of a company. Any estate in real property may be acquired in the name of the company, and title to any estate so acquired shall vest in the company itself rather than in the members individually.Section: Previous 8912 8913 8914 8915 8916 8921 8922 8923 8924 8925 8926 8931 8932 8933 8934 Next
Last modified: October 8, 2016