ARS Section 29-608 Business Transactions of Member or Manager with Limited Liability Company

ARS Section 29-608 Business Transactions of Member or Manager with Limited Liability Company 2017-02-25T05:08:01+00:00

Except as provided in an operating agreement, a member or manager may lend money to and transact other business with the limited liability company and, subject to other applicable law, has the same rights and obligations with respect to those transactions as a person who is not a member or manager.

Caution:  The above language was taken from Arizona’s statutes on November 12, 2016.  Check the Arizona legislature’s website to determine if this statute changed after November 12, 2016.