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2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 156c - Limited Liability Company Act
Section 7 - Transaction of Business Between Member or Manager and Limited Liability Company
Universal Citation: MA Gen L ch 156c § 7 (2019)
Section 7. Except as provided in a written 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.
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