2010 North Carolina Code
Chapter 57C North Carolina Limited Liability Company Act.
Article 10 - Miscellaneous.
57C-10-03. Rules of construction; policy.
57C‑10‑03. Rules of construction; policy.
(a) The rules that statutes in derogation of the common law are to be strictly construed shall have no application to this Chapter.
(b) The law of estoppel shall apply to this Chapter.
(c) The law of agency shall apply under this Chapter.
(d) This Chapter shall not be construed so as to impair the obligations of any contract existing when this Chapter goes into effect, nor to affect any action or proceedings begun or right accrued before this Chapter takes effect.
(e) Except as otherwise provided in this Chapter, it is the policy of this Chapter to give the maximum effect to the principle of freedom of contract and to the enforceability of operating agreements. (1993, c. 354, s. 1; 2009‑247, s. 8.)
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