§ 81-27-6.310. Other provisions related to a limited liability trust company

For purposes of the provisions of this chapter other than this subarticle, as the context requires:

1. A manager and the board of managers are considered to be a director and the board of directors, respectively;
2. If there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;
3. A participant or participant-transferee is considered to be a shareholder;
4. A participation share is considered to be a share of stock; and
5. A distribution is considered to be a dividend.