2010 Hawaii Code
DIVISION 2. BUSINESS
TITLE 23A. OTHER BUSINESS ENTITIES
428. Uniform Limited Liability Company Act
§428-402 Member's liability for contributions.


HI Rev Stat § 428-402 (2010 through Reg Sess) What's This?

§428-402 Member's liability for contributions. (a) A member's obligation to contribute money, property, or other benefit to, or to perform services for, a limited liability company is not excused by the member's death, disability, or other inability to perform personally. If a member does not make the required contribution of property or services, the member or the member's executor, as the case may be, is obligated at the option of the company to contribute money equal to that portion of the value of the stated contribution which has not been made.

(b) A creditor of a limited liability company who extends credit or otherwise acts in reliance on an obligation described in subsection (a), and without notice of any compromise under section 428-404(c)(5), may enforce the original obligation. [L 1996, c 92, pt of §1; am L 2001, c 129, §93]

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