Skip to main content
THIS SITE
PREVIOUS SECTION Go back to sections Go back to the chapter Go back to the N.J. Statutes homepage NEXT SECTION


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

    Chapter 2c: Revised Uniform Limited Liability Company Act

      Section: 42:2c-33: Liability for contributions.

          
33. Liability for Contributions.

a. A person's obligation to make a contribution to a limited liability company is not excused by the person's death, disability, or other inability to perform personally. If a person does not make a required contribution of property or services, the person or the person's estate is obligated, at the option of the company, to contribute money equal to the value of the part of the contribution which has not been made.

b. A creditor of a limited liability company which extends credit or otherwise acts in reliance on an obligation described in subsection a. of this section may enforce the obligation.

L.2012, c.50, s.33.

This section added to the Rutgers Database: 2012-10-16 15:25:24.






Older versions of 42:2c-33 (if available):



Court decisions that cite this statute: CLICK HERE.