§ 57C-4-02. Liability for contribution. - North Carolina Statutes

§57C‑4‑02.  Liability for contribution.

(a)        A promise by amember to contribute to the limited liability company is not enforceable unlessset out in a writing signed by the member.

(b)        Except as providedin an operating agreement, a member is obligated to the limited liabilitycompany to perform any enforceable promises to contribute cash or property orto render services, even if the member is unable to perform because of death,disability, or any other reason.  If a member does not make the required contributionof property or services, the member (or the member's estate or personalrepresentative) is obligated, at the option of the limited liability company,to contribute cash equal to that portion of the value of the statedcontribution that has not been made.

(c)        Unless otherwiseprovided in the operating agreement, the obligation of a member to make acontribution or to return money or other property paid or distributed inviolation of this Chapter may be compromised only with the unanimous consent ofthe members.  Any such compromise, however, shall not affect the rights of acreditor of a limited liability company to enforce a claim that arose prior tothe date of the compromise. (1993, c. 354, s. 1.)