§ 25.15.035. Business transactions of member or manager with the limited liability company
Except as provided in a limited liability company agreement, a member or manager may lend money to, act as a surety, guarantor, or endorser for, guarantee or assume one or more specific obligations of, provide collateral for, and transact other business with a limited liability company and, subject to other applicable law, has the same rights and obligations with respect to any such matter as a person who is not a member or manager.
[1994 c 211 § 107.]
Sections: Previous 25.15.005 25.15.007 25.15.010 25.15.015 25.15.020 25.15.025 25.15.030 25.15.035 25.15.040 25.15.045 25.15.050 25.15.055 25.15.060 25.15.070 25.15.075 NextLast modified: April 7, 2009