West Virginia § 31B-7-703 Dissociated member's power to bind limited liability company

West Virginia Statutes

§ 31B-7-703 — Dissociated member's power to bind limited liability company

West Virginia § 31B-7-703

Ch. 31BUNIFORM LIMITED LIABILITY COMPANY ACT

Art. 7MEMBER'S DISSOCIATION WHEN BUSINESS NOT WOUND UP

This text of West Virginia § 31B-7-703 (Dissociated member's power to bind limited liability company) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 31B-7-703 (2026).

Text

For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company's business, the company, including a surviving company under article nine of this chapter, is bound by an act of the dissociated member which would have bound the company under section 3-301 before dissociation only if at the time of entering into the transaction the other party:

(1)Reasonably believed that the dissociated member was then a member;

(2)Did not have notice of the member's dissociation; and

(3)Is not deemed to have had notice under section 7-704.

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For two years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company's business, the company, including a surviving company under article nine of this chapter, is bound by an act of the dissociated member which would have bound the company under section 3-301 before dissociation only if at the time of entering into the transaction the other party:

(1) Reasonably believed that the dissociated member was then a member;

(2) Did not have notice of the member's dissociation; and

(3) Is not deemed to have had notice under section 7-704.