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NOTE: This section was repealed by L.2012, c. 50, effective 2014-03-01.

New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

    Chapter 2b:

      Section: 42:2b-9: Members', managers' rights, obligations

           9. Except as otherwise provided in an operating agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume one or more specific obligations of, provide collateral for, and transact other business with a limited liability company and, subject to other applicable law, has the same rights and obligations with respect to any such matter as a person who is not a member or manager.

L.1993,c.210,s.9.



This section added to the Rutgers Database: 2012-09-26 13:37:53.






Older versions of 42:2b-9 (if available):



Court decisions that cite this statute: CLICK HERE.