Section 905 - Effect of dissolution on authority of members. - Maryland Statutes

§ 4A-905. Effect of dissolution on authority of members.
 

Following dissolution, a member of a limited liability company can bind the limited liability company: 

(1) By any act appropriate for winding up the affairs of the limited liability company or completing transactions unfinished at the time of dissolution, unless the member purporting to act on behalf of the limited liability company does not have the authority to do so and the person with whom the member is dealing has actual knowledge or actual notice of the absence of authority; and 

(2) In any transaction which would have been binding on the limited liability company had it not been dissolved; provided, that the person with whom the member is dealing does not have actual knowledge or actual notice of the dissolution. 
 

[1992, ch. 536; 1997, ch. 659, §§ 1, 2.]