There is a newer version of the New Jersey Revised Statutes
2009 New Jersey Code
TITLE 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Section 42:2B
42:2B-9 - Members', managers' rights, obligations
42:2B-9. Members', managers' rights, obligations 9. Except as otherwise 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 specific 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.
L.1993,c.210,s.9.
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