§428-301 Agency of members and managers. (a) Subject to the provisions of subsections (b) and (c):
(1) Each member is an agent of the limited liability company for the purpose of its business;
(2) An act of a member, including the signing of an instrument in the company name, for apparently carrying on in the ordinary course the company's business or business of the kind carried on by the company binds the company, unless the member had no authority to act for the company in the particular matter and the person with whom the member was dealing knew or had notice that the member lacked authority; and
(3) An act of a member which is not apparently for carrying on in the ordinary course of the company's business or business of the kind carried on by the company binds the company only if the act was authorized by the other members.
(b) Subject to subsection (c), in a manager-managed limited liability company:
(1) A member is not an agent of the company for the purpose of its business solely by reason of being a member;
(2) Each manager is an agent of the company for the purpose of its business;
(3) An act of a manager, including the signing of an instrument in the company name, for apparently carrying on in the ordinary course the company's business or business of the kind carried on by the company binds the company, unless the manager had no authority to act for the company in the particular matter and the person with whom the manager was dealing knew or had notice that the manager lacked authority; and
(4) An act of a manager which is not apparently for carrying on in the ordinary course the company's business or business of the kind carried on by the company binds the company only if the act was authorized under section 428-404(b)(2).
(c) Unless the articles of organization limit their authority, any member of a member-managed limited liability company or any manager of a manager-managed company may sign and deliver any instrument transferring or affecting the company's interest in real property. Such an instrument shall be conclusively in favor of a person who gives value without knowledge of the lack of the authority of the person signing and delivering the instrument. [L 1996, c 92, pt of §1]
Structure Hawaii Revised Statutes
Title 23A. Other Business Entities
428. Uniform Limited Liability Company Act
428-103 Effect of operating agreement; nonwaivable provisions.
428-104 Supplemental principles of law.
428-105.5 Administrative order of abatement for infringement of limited liability company name.
428-108 Change of registered agent.
428-109 Resignation of registered agent.
428-111 Nature of business and powers.
428-201 Limited liability company as legal entity.
428-203 Articles of organization.
428-204 Articles of amendment.
428-204.5 Amended and restated articles of organization.
428-204.6 Restated articles of organization.
428-206 Filing in office of director; effective time and date.
428-207 Correcting filed record.
428-208 Liability for false statement in filed record.
428-209 Filing by judicial act.
428-301 Agency of members and managers.
428-302 Limited liability company liable for member's or manager's actionable conduct.
428-303 Liability of members and managers.
428-402 Member's liability for contributions.
428-403 Member's and manager's rights to payments and reimbursement.
428-404 Management of the limited liability company.
428-405 Sharing of and right to distributions.
428-406 Limitations on distributions.
428-407 Liability for unlawful distributions.
428-408 Member's right to information.
428-409 General standards of member's and manager's conduct.
428-411 Continuation of limited liability company after expiration of specified term.
428-501 Member's distributional interest.
428-502 Transfer of distributional interest.
428-503 Rights of a transferee.
428-601 Events causing a member's dissociation.
428-602 Member's power to dissociate; wrongful dissociation.
428-603 Effect of a member's dissociation.
428-701 Company purchase of distributional interest.
428-702 Court action to determine fair value of distributional interest.
428-703 Dissociated member's power to bind the limited liability company.
428-704 Statement of dissociation.
428-801 Events causing dissolution and winding up of company's business.
428-802 Limited liability company continues after dissolution.
428-803 Right to wind up the limited liability company's business.
428-804 Member's or manager's power and liability as agent after dissolution.
428-805 Articles of termination.
428-806 Distribution of assets in winding up the limited liability company's business.
428-807 Known claims against dissolved limited liability company.
428-808 Notice; other claims against dissolved limited liability company.
428-809 Grounds for administrative termination.
428-810 Procedure for and effect of administrative termination.
428-811 Reinstatement following administrative termination.
428-812 Appeal from denial of reinstatement.
428-902.5 Conversion into and from limited liability companies.
428-902.6 Articles of conversion.
428-1001 Law governing foreign limited liability companies.
428-1002 Application for certificate of authority.
428-1003 Activities not constituting transacting business.
428-1004 Issuance of certificate of authority.
428-1005 Name of foreign limited liability company.
428-1005.5 Change of name by foreign limited liability company.
428-1006 Revocation of certificate of authority.
428-1007 Cancellation of authority.
428-1008 Effect of failure to obtain certificate of authority.
428-1009 Action by attorney general.
428-1201 Uniformity of application and construction.
428-1203 Certificates and certified copies to be received in evidence.