275.140 Effect of statements by members or managers.
139 words·~1 min read·
/ky/chapter-275/275-140A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except as provided in subsection
(2)of this section, an admission, statement, or
representation made by any member concerning the business or affairs of a limited
liability company within the scope of the member's authority as provided for by this
chapter shall be evidence against the limited liability company.
(2)If the articles of organization provide that management of the limited liability
company is vested in a manager or managers:
(a)An admission, statement, or representation made by a manager concerning the
business or affairs of a limited liability company within the scope of the
manager's authority as provided for by this chapter shall be evidence against
the limited liability company; and
(b)The admission, statement, or representation of any member, acting solely in
the capacity of a member, shall not constitute evidence against the limited
liability company.