Section 81-27-6.310 - Other provisions related to a limited liability trust companyFor purposes of the provisions of this chapter other than this subarticle, as the context requires:
(1) A manager and the board of managers are considered to be a director and the board of directors, respectively;(2) If there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;(3) A participant or participant-transferee is considered to be a shareholder;(4) A participation share is considered to be a share of stock; and(5) A distribution is considered to be a dividend. Laws, 1998, ch. 437, § 1, eff. 7/1/1998.