N.Y. Limited Liability Company Law § 611

Current through 2024 NY Law Chapters 1-50, 52-55, 57, 61-117
Section 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.

N.Y. Limited Liability Company Law Law § 611