17-7669. Business transactions of member or manager with the limited liability company.
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/ks/chapter-17/17-7669A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.