Legislation
SECTION 611
Business transactions of a member with the limited liability company
Limited Liability Company Law (LLC) CHAPTER 34, ARTICLE 6
§ 611. Business transactions of a member with the limited liability
company. Except as may be provided in the operating agreement, a member
may lend money to, borrow money from, act as a guarantor or surety for,
provide collateral for the obligations of and transact other business
with the limited liability company and, subject to other applicable law,
has the same rights and obligations with respect thereto as a person who
is not a member.
company. Except as may be provided in the operating agreement, a member
may lend money to, borrow money from, act as a guarantor or surety for,
provide collateral for the obligations of and transact other business
with the limited liability company and, subject to other applicable law,
has the same rights and obligations with respect thereto as a person who
is not a member.