Montana Code 35-8-811. Dissociated member’s power to bind limited liability company
35-8-811. Dissociated member‘s power to bind limited liability company. For 2 years after a member dissociates without the dissociation resulting in a dissolution and winding up of a limited liability company’s business, the company, including a surviving company under part 12 of this chapter, is bound by an act of the dissociated member that would have bound the company under 35-8-301 before dissociation only if at the time of entering into the transaction the other party:
Terms Used In Montana Code 35-8-811
- Business: includes every trade, occupation, profession, or other lawful purpose, whether or not carried on for profit. See Montana Code 35-8-102
- Member: means a person who has been admitted to membership in a limited liability company, as provided in 35-8-703, and who has not dissociated from the limited liability company. See Montana Code 35-8-102
(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 considered to have had notice under 35-8-812.