Sec. 34-132. Limited liability company charged with notice to or knowledge of any member or manager.
Sec. 34-132. Limited liability company charged with notice to or knowledge
of any member or manager. (a) Except as provided in subsection (b) of this section,
notice to any member of any matter relating to the business or affairs of the limited
liability company, and the knowledge of the member acting in the particular matter,
acquired while a member or known at the time of becoming a member, and the knowledge of any other member who reasonably could and should have communicated it to
the acting member, operate as notice to or knowledge of the limited liability company,
except in the case of a fraud on the limited liability company committed by or with the
consent of that member.
(b) If the articles of organization provide that management of the limited liability
company is vested in a manager or managers: (1) Notice to any manager of any matter
relating to the business or affairs of the limited liability company, and the knowledge
of the manager acting in the particular matter, acquired while a manager or known at
the time of becoming a manager, and the knowledge of any other manager who reasonably could and should have communicated it to the acting manager, operate as notice
to or knowledge of the limited liability company, except in the case of a fraud on the
limited liability company committed by or with the consent of that manager; and (2)
notice to or knowledge of any member of a limited liability company while such member
is acting solely in his capacity as a member is not notice to or knowledge of the limited
liability company.
(P.A. 93-267, S. 18.)