GroundRules
Minn. Stat. § 322C.0403: LIABILITY FOR CONTRIBUTIONS.
Where this section sits in the code
- BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
- CHAPTER 322C. MINNESOTA REVISED UNIFORM LIMITED LIABILITY COMPANY
- RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY
Subdivision 1. Impracticability no excuse.
A person's obligation to make a contribution to a limited liability company is not excused by the person's death, disability, or other inability to perform personally. If a person does not make a required contribution, the person or the person's estate is obligated to contribute money equal to the value of the part of the contribution which has not been made, at the option of the company.
Subd. 2. Creditor enforcement.
A creditor of a limited liability company which extends credit or otherwise acts in reliance on an obligation described in subdivision 1 may enforce the obligation.
Collected 2026-09-02T22:10:42Z. Source file · JSON