Delaware Statutes
§ 18-107 — Business transactions of member or manager with the limited liability company
Except as provided in a limited liability company agreement, a member or manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, guarantee or assume 1 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.
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Legislative History
68 Del. Laws, c. 434, § 1 ; 69 Del. Laws, c. 260, § 4
Nearby Sections
15
§ 18-1001
Right to bring action§ 18-1002
Proper plaintiff§ 18-1003
Complaint§ 18-1004
Expenses§ 18-101
Definitions§ 18-102
Name set forth in certificate§ 18-103
Reservation of name§ 18-108
Indemnification