§ 57C-3-23. Agency power of managers. - North Carolina Statutes

§ 57C‑3‑23. Agency power of managers.

Every manager is an agent ofthe limited liability company for the purpose of its business, and the act ofevery manager, including execution in the name of the limited liability companyof any instrument, for apparently carrying on in the usual way the business ofthe limited liability company of which he is a manager, binds the limitedliability company, unless the manager so acting has in fact no authority to actfor the limited liability company in the particular matter and the person withwhom the manager is dealing has knowledge of the fact that the manager has noauthority. An act of a manager that is not apparently for carrying on the usualcourse of the business of the limited liability company does not bind thelimited liability company unless authorized in fact or ratified by the limitedliability company. (1993,c. 354, s. 1; 2001‑487, s. 62(l).)