347.061. Property of company--title.

MISSOURI STATUTES AND CODES

347.061. Property of company--title.

Property of company--title.

347.061. 1. Property transferred to or otherwise acquiredby a limited liability company becomes property of the limitedliability company. A member has no interest in specific limitedliability company property.

2. Property may be acquired, held and conveyed in the nameof a limited liability company. Any estate in real property maybe acquired in the name of the limited liability company andtitle to any estate so acquired shall vest in the limitedliability company itself rather than in the members individually.

3. Subject to subsection 4 of this section:

(1) Property is presumed to be owned by the limitedliability company if it is acquired in the name of the limitedliability company;

(2) Property is presumed to be owned by the limitedliability company if it is purchased with funds of the limitedliability company even if it is acquired in the name of a memberor other person; and

(3) Property is presumed to be separate property of one ormore members or other persons if it is acquired in the name ornames of such person or persons without use of funds of thelimited liability company even though the property was used forpurposes of the business of the limited liability company.

4. Real property and other property held of public recordotherwise than in the name of the limited liability company, theownership of which is customarily publicly recorded, shall not bedeemed to be owned by the limited liability company to theprejudice of a person who is not a member and who did not haveactual knowledge to the contrary.