ยง 611. Business transactions of a member with the limited liability
company. Except as may be provided in the operating agreement, a member
may lend money to, borrow money from, act as a guarantor or surety for,
provide collateral for the obligations of and transact other business
with the limited liability company and, subject to other applicable law,
has the same rights and obligations with respect thereto as a person who
is not a member.
Structure New York Laws
LLC - Limited Liability Company Law
Article 6 - Members and Membership
601 - Nature of Membership Interest.
603 - Assignment of Membership Interest.
604 - Rights of Assignee to Become a Member.
605 - Liability Upon Assignment.
607 - Rights of Creditors of Members.
608 - Powers of Estate of a Deceased or Incompetent Member.
609 - Liability of Members, Managers and Agents.
611 - Business Transactions of a Member With the Limited Liability Company.