N.Y. Limited Liability Company Law Section 611
Business transactions of a member with the limited liability company

Except as may be provided in the operating agreement, a member may lend money to, borrow money from, act as a guarantor or surety for, provide collateral for the obligations of and transact other business with the limited liability company and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a member.

Source: Section 611 — Business transactions of a member with the limited liability company, https://www.­nysenate.­gov/legislation/laws/LLC/611 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 611’s source at nysenate​.gov

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