Sec. 34-151. Liability for contribution. - Connecticut Statutes

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Statutes > Connecticut > Title34 > Chap613 > Sec34-151

      Sec. 34-151. Liability for contribution. (a) A promise by a member to contribute to the limited liability company is not enforceable unless set out in a writing signed by the member.

      (b) Except as provided in the operating agreement, a member is obligated to the limited liability company to perform any enforceable promise to contribute cash or property or to perform services, even if the member is unable to perform because of death, disability or other reason.

      (c) If a member does not make the required contribution of property or services, the member is obligated, at the option of the limited liability company, to contribute cash equal to that portion of value of the stated contribution that has not been made.

      (d) Unless otherwise provided in the operating agreement, the obligation of a member to make a contribution may be compromised only with the unanimous consent of the members.

      (P.A. 93-267, S. 27.)

State Codes and Statutes

Statutes > Connecticut > Title34 > Chap613 > Sec34-151

      Sec. 34-151. Liability for contribution. (a) A promise by a member to contribute to the limited liability company is not enforceable unless set out in a writing signed by the member.

      (b) Except as provided in the operating agreement, a member is obligated to the limited liability company to perform any enforceable promise to contribute cash or property or to perform services, even if the member is unable to perform because of death, disability or other reason.

      (c) If a member does not make the required contribution of property or services, the member is obligated, at the option of the limited liability company, to contribute cash equal to that portion of value of the stated contribution that has not been made.

      (d) Unless otherwise provided in the operating agreement, the obligation of a member to make a contribution may be compromised only with the unanimous consent of the members.

      (P.A. 93-267, S. 27.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title34 > Chap613 > Sec34-151

      Sec. 34-151. Liability for contribution. (a) A promise by a member to contribute to the limited liability company is not enforceable unless set out in a writing signed by the member.

      (b) Except as provided in the operating agreement, a member is obligated to the limited liability company to perform any enforceable promise to contribute cash or property or to perform services, even if the member is unable to perform because of death, disability or other reason.

      (c) If a member does not make the required contribution of property or services, the member is obligated, at the option of the limited liability company, to contribute cash equal to that portion of value of the stated contribution that has not been made.

      (d) Unless otherwise provided in the operating agreement, the obligation of a member to make a contribution may be compromised only with the unanimous consent of the members.

      (P.A. 93-267, S. 27.)