8946 - Transactions by member or manager. - Pennsylvania Statutes

§ 8946. Transactions by member or manager. (a) General rule.--A member or manager may be an employee or other representative of and engage in transactions with a limited liability company to the same extent as a person who is not a member or manager of the company. (b) Managers.--A person who is both a member and a manager of a company has the rights and powers and is subject to the duties and liabilities of a manager and has the rights, powers, duties and liabilities of a member to the extent of his participation in the company as a member.