§ 57C-3-05. Members bound by operating agreements. - North Carolina Statutes

§57C‑3‑05.  Members bound by operating agreements.

A member shall be bound by anyoperating agreement, including any amendment thereto, otherwise valid underthis Chapter and other applicable law, (i) to which the member has expresslyassented, or (ii) which was in effect at the time the member became a memberand either was in writing or the terms of which were actually known to themember, or (iii) with respect to any amendment, if the member was bound by theoperating agreement as in effect immediately prior to such amendment and suchamendment was adopted in accordance with the terms of such operating agreement.The articles of organization or written operating agreement may require thatall agreements of the members constituting the operating agreement be inwriting, in which case the term "operating agreement" shall notinclude oral agreements of the members.  Except to the extent otherwiseprovided in a written operating agreement, a limited liability company shall bedeemed for all purposes to be a party to the operating agreement of its memberor members. (1993, c. 354, s. 1; 1999‑189, s. 4.2; 2000‑140,s. 101(t).)