Mass. Gen. Laws ch. 156C § 7

Current through Chapter 223 of the 2024 Legislative Session

Section 156C:7 - Transaction of business between member or manager and limited liability company

Except as provided in a written operating agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume one or more specific obligations of, provide collateral for, and transact other business with a limited liability company and, subject to other applicable law, has the same rights and obligations with respect to any such matter as a person who is not a member or manager.

Mass. Gen. Laws ch. 156C, § 7