GroundRules
Ala. Code § 10A-5-3.01: Business Transactions of a Member with the Limited Liability Company. Repealed in the 2014 Regular Session by Act 2014-144 Effective January 1, 2017.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 5 Limited Liability Companies.
- Article 3 Relationship of Members and Managers to Third Parties.
Except as otherwise provided in the operating agreement, a member may lend money to and transact any lawful business with the limited liability company and, subject to other applicable law, have the same rights and obligations with respect thereto as a person who is not a member.
Collected 2026-09-03T14:01:53Z. Source file · JSON