Current through 2024 Legislative Session
Section 10-32.1-29 - Liability for contributions1. The obligation of a person to make a contribution to a limited liability company is not excused by the death, disability, or other inability of the person to perform personally. If a person does not make a required contribution, then the person or the estate of the person is obligated to contribute money equal to the value of the part of the contribution which has not been made, at the option of the company.2. A creditor of a limited liability company which extends credit or otherwise acts in reliance on an obligation described in subsection 1 may enforce the obligation.Added by S.L. 2015, ch. 87 (HB 1136),§ 19, eff. 7/1/2015.