Kentucky Statutes 275.155 – Proper parties to proceedings
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A member of a limited liability company shall not be a proper party to a proceeding by or against a limited liability company, solely by reason of being a member of the limited liability company, except if the object of the proceeding is to enforce a member’s right against or liability to the limited liability company or as otherwise provided in an operating agreement.
Effective: July 15, 1994
History: Created 1994 Ky. Acts ch. 389, sec. 31, effective July 15, 1994.
Effective: July 15, 1994
Terms Used In Kentucky Statutes 275.155
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Operating agreement: means any agreement, written or oral, among all of the members, as to the conduct of the business and affairs of a limited liability company. See Kentucky Statutes 275.015
- Proceeding: means civil suit and criminal, administrative, and investigative action. See Kentucky Statutes 275.015
History: Created 1994 Ky. Acts ch. 389, sec. 31, effective July 15, 1994.