Section 10.50.255. Admissions and representations by members and managers.

Latest version.

   (a) Except as provided in (b) of this section, an admission or representation made by a member of a limited liability company about the affairs of the company is evidence against the company if the admission or representation is within the scope of the member's authority under this chapter.
   (b) If a limited liability company is managed by a manager, an admission or representation made by a
        (1) manager about the affairs of the company is evidence against the company if the admission or representation is within the scope of the manager's authority under this chapter; and
        (2) member, acting solely in the capacity of a member, is not evidence against the company.

Notes

History

(Sec. 1 ch 99 SLA 1994)

                    
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