2010 Hawaii Code
DIVISION 2. BUSINESS
TITLE 23A. OTHER BUSINESS ENTITIES
428. Uniform Limited Liability Company Act
§428-703 Dissociated member's power to bind the limited liability company.


HI Rev Stat § 428-703 (2010 through Reg Sess) What's This?

[§428-703] Dissociated member's power to bind the limited liability company. Provided that the dissociation does not result in a dissolution and winding up of a limited liability company's business, for two years after a member dissociates from the company, the company, including a surviving company under part IX, shall be bound by an act of the dissociated member which would have bound the company under section 428-301 before dissociation only if at the time of entering into the transaction the other party:

(1) Reasonably believed that the dissociated member was then a member;

(2) Did not have notice of the member's dissociation; and

(3) Is not deemed to have had notice under section 428-704. [L 1996, c 92, pt of §1]

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