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§ 4A-905. Members' authority to bind company

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 4a. Limited Liability Company Act (Refs & Annos)
Subtitle 9. Dissolution, Forfeiture, and Reinstatement
MD Code, Corporations and Associations, § 4A-905
§ 4A-905. Members' authority to bind company
Following dissolution, a member of a limited liability company can bind the limited liability company:
(1) By any act appropriate for winding up the affairs of the limited liability company or completing transactions unfinished at the time of dissolution, unless the member purporting to act on behalf of the limited liability company does not have the authority to do so and the person with whom the member is dealing has actual knowledge or actual notice of the absence of authority; and
(2) In any transaction which would have been binding on the limited liability company had it not been dissolved; provided, that the person with whom the member is dealing does not have actual knowledge or actual notice of the dissolution.

Credits

Added by Acts 1992, c. 536. Amended by Acts 1997, c. 659, § 1, eff. Oct. 1, 1997. Renumbered from Corporations and Associations § 4A-907 by Acts 1997, c. 659, § 2, eff. Oct. 1, 1997.
MD Code, Corporations and Associations, § 4A-905, MD CORP & ASSNS § 4A-905
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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