79-29-109 - Business transactions of member or manager with the limited liability company. - Mississippi Statutes

§ 79-29-109. Business transactions of member or manager with the limited liability company.
 

Except as provided in the certificate of formation or the limited liability company agreement, a member or manager may lend money to and transact other business with the limited liability company and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a member or manager. 
 

Sources: Laws,  1994, ch. 402, § 9, eff from and after July 1, 1994.