§ 29-3301 – Agency power of member and manager

29-3301. Agency power of member and manager A. In a member-managed limited liability company, both of the following apply: 1. Each member is an agent of the company for the purpose of conducting the company’s activities and affairs in the ordinary course. 2. The act of each member done in the ordinary course of the […]

§ 29-3302 – [Reserved]

29-3302. [Reserved]

§ 29-3303 – [Reserved]

29-3303. [Reserved]

§ 29-3304 – Liability of members and managers

29-3304. Liability of members and managers A. A debt, obligation or other liability of a limited liability company is solely the debt, obligation or other liability of the company. A member or manager is not personally liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation or other liability of the […]