Vermont Statutes Title 11 Sec. 4104
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Terms Used In Vermont Statutes Title 11 Sec. 4104
- Business: includes every trade, occupation, profession, and other lawful purpose, whether or not carried on for profit. See
- Dissolution: means an event under section 4101 of this title which requires a limited liability company to wind up its affairs and to terminate its existence as a legal entity. See
- Manager: means a person that under the operating agreement of a manager-managed limited liability company is responsible, alone or in concert with others, for performing the management functions stated in subsection 4054(c) of this title. See
- Member: means a person that has become a member of a limited liability company under section 4051 of this title and has not dissociated under section 4081 of this title. See
§ 4104. Member‘s or manager‘s power and liability as agent after dissolution
A limited liability company is bound by a member’s or manager’s act after dissolution that:
(1) is appropriate for winding up the company’s business; or
(2) would have bound the company under section 4041 of this title before dissolution, if the other party to the transaction did not have notice of the dissolution. (Added 2015, No. 17, § 2.)