| Code of Alabama |
| Match Context and Document information |
| URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/10A-5A-1.05.htm |
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| Depth: | 0 singles |
| Size: | 1,675 bytes |
| Modified: | 2015-11-24 15:25:56 |
| Categories: | -None- |
| Title: | 10A-5A-1.05 |
| Description: | -None- |
| Keywords: | -None- |
| Meta data: | -None- |
| Body: | Section 10A-5A-1.05 Governing law. (a) The law of this state governs: (1) the organization and internal affairs of a limited liability company, or series thereof; (2) the liability of a member as a member for the debts, obligations, or other liabilities of a limited liability company, or series thereof; (3) the authority of the members and agents of a limited liability company, or series thereof; and (4) the availability and liability of the assets of a series or the limited liability company for the obligations of another series or the limited liability company. (b) The law of the state or other jurisdiction under which a foreign limited liability company is formed governs: (1) the organization and internal affairs of a foreign limited liability company, or series thereof; (2) the liability of a member as a member for the debts, obligations, or other liabilities of a foreign limited liability company, or series thereof; (3) the authority of the members and agents of a foreign limited liability company, or series thereof; and (4) the availability and liability of the assets of a series or the foreign limited liability company for the obligations of another series or the foreign limited liability company. (Act 2014-144, p. 265, §1; Act 2015-165, §1.) |