GroundRules
← Search the law
West Virginia · Through as of 2026-08-03; contains at least the enactments of the 2026 Regular Session · Newer source version available

W. Va. Code § 31B-4-402: Member's liability for contributions.

Read at publisher ↗
Where this section sits in the code
  1. CHAPTER 31B. UNIFORM LIMITED LIABILITY COMPANY ACT.
  2. ARTICLE 4. RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY.

(a) A member's obligation to contribute money, property or other benefit to, or to perform services for, a limited liability company is not excused by the member's death, disability or other inability to perform personally. If a member does not make the required contribution of property or services, the member is obligated at the option of the company to contribute money equal to the value of that portion of the stated contribution which has not been made.

(b) A creditor of a limited liability company who extends credit or otherwise acts in reliance on an obligation described in subsection (a) of this section, and without notice of any compromise under section 4-404(c)(5), may enforce the original obligation.

Collected 2026-09-06T00:28:00Z. Source file · JSON

Browse this collection