Chapter 13: LIMITED LIABILITY COMPANIES ENACTED BY PL 1993, C. 718, PT. A, §1
Subchapter 3: RELATIONS OF MEMBERS AND MANAGERS TO PERSONS DEALING WITH A LIMITED LIABILITY COMPANY ENACTED BY PL 1993, C. 718, PT. A,
§1
§642. Admissions of members and managers
1.Admission or representation by member. Except as provided in subsection 2, an admission or representation made by a member concerning the business or affairs of
a limited liability company within the scope of a member's authority as provided for by this chapter is evidence against that
limited liability company.
[
1997, c. 633, §13 (AMD)
.]
2.Admission or representation by manager. If the articles of organization provide that management of a limited liability company is vested in a manager or managers:
A. An admission or representation made by a manager concerning the business or affairs of a limited liability company within
the scope of the manager's authority as provided for by this chapter is evidence against that limited liability company; and [1993, c. 718, Pt. A, §1 (NEW).]
B. An admission or representation of a member, acting solely in that member's capacity as a member, does not constitute evidence
against a limited liability company. [1993, c. 718, Pt. A, §1 (NEW).]
[
1997, c. 633, §13 (AMD)
.]
SECTION HISTORY
1993, c. 718, §A1 (NEW).
1997, c. 633, §13 (AMD).
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