Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:17-7669
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Business transactions of member or manager with the
limited liability company.
Keywords:


Body:

17-7669. Business transactions of member or manager with the limited liability company. Except as 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 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.
History: L. 1999, ch. 119, 8; Jan. 1, 2000.


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

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