17-7669. Business transactions of member or manager with the limited liability company.
17-7669
17-7669. Business transactions of member or manager
with the limited liability company.
Except
as provided in an operating agreement, a member or manager
may lend
money to, borrow money from, act as a surety, guarantor or endorser for,
guarantee or assume one
or more obligations of, provide collateral for, and transact other business
with, a limited liability
company and, subject to other applicable law, has the same rights and
obligations with respect to any
such matter as a person who is not a member or manager.
History: L. 1999, ch. 119, § 8; Jan. 1, 2000.