TITLE 30

CORPORATIONS

CHAPTER 25

LIMITED LIABILITY COMPANIES

PART 1

GENERAL PROVISIONS

30-25-106.  OPERATING AGREEMENT — EFFECT ON LIMITED LIABILITY COMPANY AND PERSON BECOMING MEMBER — PREFORMATION AGREEMENT. (a) A limited liability company is bound by and may enforce the operating agreement, whether or not the company has itself manifested assent to the operating agreement.

(b)  A person that becomes a member is deemed to assent to the operating agreement.

(c)  Two (2) or more persons intending to become the initial members may make an agreement providing that upon the formation of the company the agreement will become the operating agreement. One person intending to become the initial member of a limited liability company may assent to terms providing that upon the formation of the company the terms will become the operating agreement.

History:

[30-25-106, added 2015, ch. 243, sec. 43, p. 874.]