(a) (1) Except as provided in paragraph (3) of this subsection or in the operating agreement, each member is an agent of the limited liability company for the purpose of its business. (2) Except as provided in paragraph (3) of this subsection, the act of each member, including the execution in the name of the limited liability company […]
(a) Except for the requirement set forth in § 4A–404 of this subtitle that certain consents be in writing, members may enter into an operating agreement to regulate or establish any aspect of the affairs of the limited liability company or the relations of its members, including provisions establishing: (1) The manner in which the business and […]
(a) The provisions of this section apply unless otherwise provided in this title or unless otherwise agreed. (b) (1) Members shall vote in proportion to their respective interests in profits of the limited liability company, as determined under § 4A–503 of this title. (2) Decisions concerning the affairs of the limited liability company shall require the consent of members […]
Any notice, consent, or other communication required or authorized by this title may be delivered by electronic transmission.
(a) (1) A member may authorize another person to act as proxy for the member as provided in this section. (2) (i) A member may sign a writing authorizing another person to act as proxy. (ii) Signing may be accomplished by the member or the member’s authorized agent signing the writing or causing the member’s signature to be affixed to […]
Wherever this title requires the unanimous consent of the members to allow the limited liability company to act: (1) The consent shall be in writing; and (2) The operating agreement may provide that: (i) 1. The action may be taken on consent of less than all of the members; 2. The consent of certain members or classes of members is […]
Unless otherwise agreed, a member may lend money to and transact other business with the limited liability company and has the same rights and obligations with respect to the transaction as a person who is not a member.
(a) A member may inspect and copy, in person or by agent, from time to time on reasonable written demand, for any purpose reasonably related to the member’s membership interest: (1) True and full information regarding the state of the business and financial condition of the limited liability company; (2) A copy of the articles of organization and […]
