Md. Code Ann., Corps. & Ass'ns § 4A-905
Members' authority to bind company
Effective Oct 1, 1997Added by Acts 1992, c. 536. Amended by Acts 1997, c. 659, § 1, eff. Oct. 1, 1997. Renumbered from Corporations and Associations § 4A-907 by Acts 1997, c. 659, § 2, eff. Oct. 1, 1997.State of Maryland
- (1) By any act appropriate for winding up the affairs of the limited liability company or completing transactions unfinished at the time of dissolution, unless the member purporting to act on behalf of the limited liability company does not have the authority to do so and the person with whom the member is dealing has actual knowledge or actual notice of the absence of authority; and
- (2) In any transaction which would have been binding on the limited liability company had it not been dissolved; provided, that the person with whom the member is dealing does not have actual knowledge or actual notice of the dissolution.
Following dissolution, a member of a limited liability company can bind the limited liability company:
Added by Acts 1992, c. 536. Amended by Acts 1997, c. 659, § 1, eff. Oct. 1, 1997. Renumbered from Corporations and Associations § 4A-907 by Acts 1997, c. 659, § 2, eff. Oct. 1, 1997.