2010 Hawaii Code
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]

Disclaimer: These codes may not be the most recent version. Hawaii may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.