Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:17-7694
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Contributions by a manager.
Keywords:


Body:

17-7694. Contributions by a manager. A manager of a limited liability company may make contributions to the limited liability company and share in the profits and losses of, and in distributions from, the limited liability company as a member. A person who is both a manager and a member has the rights and powers, and is subject to the restrictions and liabilities, of a manager and, except as provided in an operating agreement, also has the rights and powers, and is subject to the restrictions and liabilities, of a member to the extent of the manager's participation in the limited liability company as a member.
History: L. 1999, ch. 119, 33; Jan. 1, 2000.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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