31 §642. Admissions of members and managers (WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11) - Maine Statutes

Title 31: PARTNERSHIPS AND ASSOCIATIONS

Chapter 13: LIMITED LIABILITY COMPANIES

Subchapter 3: RELATIONS OF MEMBERS AND MANAGERS TO PERSONS DEALING WITH A LIMITED LIABILITY COMPANY

§642. Admissions of members and managers

(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)

(WHOLE SECTION TEXT EFFECTIVE UNTIL 7/1/11)

1. Admission or representation by member. Except as provided in subsection 2, an admission or representation made by a member concerning the business or affairs of a limited liability company within the scope of a member's authority as provided for by this chapter is evidence against that limited liability company.

[ 1997, c. 633, §13 (AMD) .]

2. Admission or representation by manager. If the articles of organization provide that management of a limited liability company is vested in a manager or managers:

A. An admission or representation made by a manager concerning the business or affairs of a limited liability company within the scope of the manager's authority as provided for by this chapter is evidence against that limited liability company; and [1993, c. 718, Pt. A, §1 (NEW).]

B. An admission or representation of a member, acting solely in that member's capacity as a member, does not constitute evidence against a limited liability company. [1993, c. 718, Pt. A, §1 (NEW).]

[ 1997, c. 633, §13 (AMD) .]

SECTION HISTORY

1993, c. 718, §A1 (NEW). 1997, c. 633, §13 (AMD). 2009, c. 629, Pt. A, §1 (RP). 2009, c. 629, Pt. A, §3 (AFF).