N.Y. Limited Liability Company Law § 611: Business transactions of a member with the limited liability company

§ 611. Business transactions of a member with the limited liability

company. Except as may be provided in the operating agreement, a member

may lend money to, borrow money from, act as a guarantor or surety for,

provide collateral for the obligations of and transact other business

with the limited liability company and, subject to other applicable law,

has the same rights and obligations with respect thereto as a person who

is not a member.