2011 California Code
Corporations Code
TITLE 2.5. LIMITED LIABILITY COMPANIES [17000 - 17656]
CHAPTER 1. General Provisions
Section 17004
(a) A member 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 thereto as a person who is not a member.
(b) Except as otherwise authorized in, or pursuant to, the operating agreement or other agreement among all the members, no member is entitled to remuneration for acting in the limited liability company business, subject to the entitlement of managers or members winding up the affairs of the limited liability company to reasonable compensation pursuant to subdivision (c) of Section 17352.
(Added by Stats. 1994, Ch. 1200, Sec. 27. Effective September 30, 1994.)
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