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2019 New Jersey Revised Statutes
Title 42 - Partnerships and Partnership Associations
Section 42:2C-33 - Liability for contributions.
Universal Citation: NJ Rev Stat § 42:2C-33 (2019)
42:2C-33 Liability for contributions.
33. Liability for Contributions.
a. A person's obligation to make a contribution to a limited liability company is not excused by the person's death, disability, or other inability to perform personally. If a person does not make a required contribution of property or services, the person or the person's estate is obligated, at the option of the company, to contribute money equal to the value of the part of the contribution which has not been made.
b. A creditor of a limited liability company which extends credit or otherwise acts in reliance on an obligation described in subsection a. of this section may enforce the obligation.
L.2012, c.50, s.33.
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